FMC (NYSE:FMC) Price Target Cut to $49.00 by Analysts at KeyCorp

FMC (NYSE:FMC) had its target price cut by KeyCorp from $51.00 to $49.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley decreased their price target on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Mizuho reduced their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Redburn Atlantic lowered FMC from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Friday, February 14th. The Goldman Sachs Group began coverage on FMC in a report on Thursday, March 13th. They set a “buy” rating and a $51.00 target price on the stock. Finally, Barclays dropped their price target on FMC from $65.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.00.

FMC Trading Up 1.8 %

NYSE FMC opened at $37.75 on Monday. The company’s fifty day simple moving average is $38.81 and its 200-day simple moving average is $50.45. The stock has a market cap of $4.72 billion, a P/E ratio of 13.88, a PEG ratio of 1.90 and a beta of 0.83. FMC has a 52 week low of $32.83 and a 52 week high of $68.72. The company has a current ratio of 1.64, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67.

FMC (NYSE:FMC) last announced its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a return on equity of 9.67% and a net margin of 8.03%. Equities research analysts predict that FMC will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.32 annualized dividend and a dividend yield of 6.15%. FMC’s payout ratio is 85.29%.

Insider Activity at FMC

In other news, Director Carol Anthony Davidson acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $37.33 per share, for a total transaction of $223,980.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at $223,980. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Finian Reilly sold 2,958 shares of FMC stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total value of $163,429.50. Following the transaction, the executive vice president now directly owns 25,468 shares in the company, valued at approximately $1,407,107. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On FMC

Several large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new stake in FMC during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its position in shares of FMC by 217.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 511 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of FMC during the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB purchased a new position in FMC in the 3rd quarter worth about $58,000. Finally, IFP Advisors Inc raised its holdings in FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock worth $47,000 after buying an additional 379 shares during the period. 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.