FMC (FMC) Research Coverage Started at Morgan Stanley
Morgan Stanley assumed coverage on shares of FMC (NYSE:FMC) in a research report sent to investors on Monday, Benzinga reports. The brokerage issued an equal weight rating and a $82.00 price target on the basic materials company’s stock.
FMC has been the subject of a number of other research reports. Loop Capital lowered their price target on FMC from $118.00 to $101.00 and set a buy rating for the company in a research report on Sunday, March 3rd. KeyCorp lowered their price target on FMC from $112.00 to $105.00 and set a buy rating for the company in a research report on Thursday, February 14th. Royal Bank of Canada lowered FMC from an outperform rating to a sector perform rating and lowered their price target for the company from $100.00 to $87.00 in a research report on Thursday, April 18th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed a buy rating and set a $114.00 price target on shares of FMC in a research report on Friday, February 1st. Finally, Goldman Sachs Group reaffirmed a neutral rating and set a $81.00 price target on shares of FMC in a research report on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $95.25.
NYSE FMC opened at $73.23 on Monday. FMC has a 1-year low of $69.36 and a 1-year high of $92.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.26 and a quick ratio of 0.92. The stock has a market capitalization of $9.79 billion, a PE ratio of 11.64, a P/E/G ratio of 1.21 and a beta of 1.49.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. FMC’s dividend payout ratio (DPR) is 25.44%.
In other FMC news, insider Mark Douglas sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.12, for a total transaction of $1,389,720.00. Following the transaction, the insider now owns 47,594 shares in the company, valued at approximately $3,575,261.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Pierre R. Brondeau sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.09, for a total value of $2,411,970.00. Following the transaction, the chief executive officer now owns 284,814 shares in the company, valued at approximately $20,817,055.26. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of FMC. Massey Quick Simon & CO. LLC purchased a new position in shares of FMC during the 4th quarter worth approximately $27,000. We Are One Seven LLC purchased a new stake in shares of FMC in the 4th quarter worth approximately $31,000. Lindbrook Capital LLC purchased a new stake in shares of FMC in the 4th quarter worth approximately $31,000. Paragon Capital Management LLC purchased a new stake in shares of FMC in the 1st quarter worth approximately $31,000. Finally, Riverview Trust Co purchased a new stake in shares of FMC in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.
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