KeyCorp Issues Pessimistic Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price objective reduced by equities researchers at KeyCorp from $55.00 to $51.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price would indicate a potential upside of 35.30% from the stock’s current price.

A number of other research analysts also recently issued reports on FMC. Barclays reduced their price target on shares of FMC from $65.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Redburn Atlantic cut shares of FMC from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Friday, February 14th. Bank of America reaffirmed an “underperform” rating and issued a $48.00 price objective (down previously from $61.00) on shares of FMC in a report on Wednesday, February 5th. Morgan Stanley dropped their price objective on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Vertical Research raised shares of FMC to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.23.

FMC Trading Down 0.8 %

FMC stock opened at $37.69 on Tuesday. The firm’s 50-day moving average is $48.60 and its 200-day moving average is $57.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. FMC has a 1 year low of $33.80 and a 1 year high of $68.72. The company has a market cap of $4.71 billion, a P/E ratio of 13.86, a PEG ratio of 1.82 and a beta of 0.84.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, equities analysts expect that FMC will post 3.48 earnings per share for the current year.

Insider Buying and Selling at FMC

In other news, EVP Michael Finian Reilly sold 2,958 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total transaction of $163,429.50. Following the completion of the transaction, the executive vice president now owns 25,468 shares in the company, valued at approximately $1,407,107. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FMC

Several large investors have recently made changes to their positions in the business. Barnett & Company Inc. acquired a new position in shares of FMC in the third quarter worth about $2,265,000. Inspire Trust Co. N.A. boosted its stake in shares of FMC by 18.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock valued at $3,970,000 after buying an additional 9,500 shares during the period. Reinhart Partners LLC. raised its holdings in shares of FMC by 20.9% during the fourth quarter. Reinhart Partners LLC. now owns 227,328 shares of the basic materials company’s stock worth $11,050,000 after acquiring an additional 39,230 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of FMC by 27.8% during the third quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock worth $2,867,000 after acquiring an additional 9,449 shares in the last quarter. Finally, First National Bank of Omaha raised its holdings in shares of FMC by 85.7% during the third quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company’s stock worth $2,238,000 after acquiring an additional 15,662 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

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.