FMC Co. (NYSE:FMC) Receives Consensus Rating of “Hold” from Brokerages

FMC Co. (NYSE:FMC) has been assigned an average rating of “Hold” from the seventeen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $71.88.

A number of equities research analysts have recently issued reports on FMC shares. Bank of America cut FMC from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $60.00 to $57.00 in a report on Tuesday, January 16th. BMO Capital Markets decreased their price objective on FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a report on Wednesday, February 7th. BNP Paribas downgraded FMC from an “outperform” rating to a “neutral” rating and set a $56.00 target price for the company. in a report on Wednesday, February 7th. Wolfe Research began coverage on shares of FMC in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Mizuho lifted their price objective on shares of FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday.

Insider Buying and Selling

In other news, CFO Andrew D. Sandifer bought 2,150 shares of the company’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the transaction, the chief financial officer now owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FMC

Several large investors have recently modified their holdings of the business. North Point Portfolio Managers Corp OH raised its position in FMC by 67.3% during the 4th quarter. North Point Portfolio Managers Corp OH now owns 118,531 shares of the basic materials company’s stock worth $7,473,000 after purchasing an additional 47,697 shares during the last quarter. Raymond James & Associates grew its position in shares of FMC by 0.5% in the 4th quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock valued at $7,262,000 after buying an additional 610 shares during the last quarter. Invesco Ltd. increased its stake in shares of FMC by 37.9% in the third quarter. Invesco Ltd. now owns 1,764,469 shares of the basic materials company’s stock valued at $118,166,000 after buying an additional 484,500 shares during the period. Nordea Investment Management AB raised its position in shares of FMC by 15.4% during the third quarter. Nordea Investment Management AB now owns 14,195 shares of the basic materials company’s stock worth $950,000 after acquiring an additional 1,889 shares during the last quarter. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of FMC in the third quarter worth approximately $664,000. Institutional investors own 91.86% of the company’s stock.

FMC Price Performance

NYSE:FMC opened at $66.78 on Wednesday. FMC has a 12-month low of $49.49 and a 12-month high of $114.66. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 6.34, a P/E/G ratio of 1.99 and a beta of 0.88. The stock’s 50 day moving average price is $60.43 and its two-hundred day moving average price is $57.79. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. The firm’s revenue for the quarter was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 EPS. On average, analysts anticipate that FMC will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio (DPR) is 22.03%.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.