FMC (NYSE:FMC) Given New $57.00 Price Target at Mizuho

FMC (NYSE:FMC) had its target price raised by Mizuho from $55.00 to $57.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other equities research analysts have also issued reports on the stock. Bank of America lowered shares of FMC from a neutral rating to an underperform rating and decreased their price target for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. Royal Bank of Canada reduced their price objective on FMC from $61.00 to $59.00 and set an outperform rating on the stock in a research report on Thursday, February 8th. KeyCorp lifted their price target on FMC from $76.00 to $79.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. StockNews.com lowered shares of FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Finally, Loop Capital boosted their target price on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $71.88.

FMC Stock Up 9.5 %

FMC stock opened at $66.78 on Tuesday. The company has a market cap of $8.34 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. 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 has a 52 week low of $49.49 and a 52 week high of $114.66. The business has a 50-day simple moving average of $60.71 and a 200 day simple moving average of $57.79.

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

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis 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 currently 22.03%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On FMC

Hedge funds have recently bought and sold shares of the company. Legacy Wealth Asset Management LLC increased its stake in FMC by 4.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 175 shares during the last quarter. Cable Hill Partners LLC lifted its position in FMC by 5.1% during the third quarter. Cable Hill Partners LLC now owns 3,696 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 179 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its position in FMC by 1.5% during the first quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock valued at $801,000 after purchasing an additional 183 shares during the last quarter. Wahed Invest LLC increased its holdings in shares of FMC by 9.5% in the 4th quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock worth $134,000 after buying an additional 184 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of FMC by 27.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after buying an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Company Profile

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.