FMC Corporation (FMC) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of FMC Corporation (NYSE:FMC) in a report released on Thursday morning. Jefferies Group LLC currently has a $108.00 target price on the basic materials company’s stock. Jefferies Group also issued estimates for FMC Corporation’s Q3 2017 earnings at $0.64 EPS, Q4 2017 earnings at $0.90 EPS, FY2018 earnings at $5.50 EPS and FY2019 earnings at $6.15 EPS.
FMC has been the topic of several other research reports. Zacks Investment Research raised FMC Corporation from a hold rating to a strong-buy rating and set a $103.00 target price on the stock in a research report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a hold rating and set a $85.00 target price on shares of FMC Corporation in a research report on Tuesday, September 5th. KeyCorp reaffirmed a buy rating and set a $98.00 target price on shares of FMC Corporation in a research report on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a buy rating and set a $83.00 target price on shares of FMC Corporation in a research report on Wednesday, July 12th. Finally, Credit Suisse Group set a $93.00 target price on FMC Corporation and gave the company a buy rating in a research report on Thursday, August 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $87.89.
Shares of FMC Corporation (NYSE FMC) traded up 0.85% during midday trading on Thursday, hitting $93.72. The stock had a trading volume of 1,045,987 shares. The company has a market cap of $12.57 billion, a PE ratio of 278.10 and a beta of 1.61. The company’s 50 day moving average is $88.62 and its 200 day moving average is $78.78. FMC Corporation has a 52-week low of $45.91 and a 52-week high of $94.42.
FMC Corporation (NYSE:FMC) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $656.80 million for the quarter, compared to the consensus estimate of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. FMC Corporation’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. On average, analysts anticipate that FMC Corporation will post $2.43 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.71%. FMC Corporation’s payout ratio is currently 188.58%.
In related news, VP Andrea E. Utecht sold 14,174 shares of FMC Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total value of $1,190,616.00. Following the completion of the transaction, the vice president now owns 131,639 shares in the company, valued at approximately $11,057,676. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. RiverPoint Capital Management LLC increased its stake in shares of FMC Corporation by 4.4% in the 1st quarter. RiverPoint Capital Management LLC now owns 4,825 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 205 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of FMC Corporation by 4.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,048 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 214 shares in the last quarter. KCG Holdings Inc. increased its stake in shares of FMC Corporation by 3.9% in the 1st quarter. KCG Holdings Inc. now owns 22,879 shares of the basic materials company’s stock valued at $1,592,000 after purchasing an additional 860 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of FMC Corporation by 6.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 22,519 shares of the basic materials company’s stock valued at $1,645,000 after purchasing an additional 1,336 shares in the last quarter. Finally, Hanseatic Management Services Inc. increased its stake in shares of FMC Corporation by 13.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock valued at $1,048,000 after purchasing an additional 1,688 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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