FMC (NYSE:FMC) Price Target Lowered to $62.00 at Wells Fargo & Company

FMC (NYSE:FMC) had its target price trimmed by Wells Fargo & Company from $68.00 to $62.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on FMC from $53.00 to $50.00 and set a neutral rating on the stock in a report on Monday, May 13th. Mizuho increased their price objective on FMC from $55.00 to $57.00 and gave the stock a neutral rating in a report on Tuesday, May 7th. Barclays began coverage on FMC in a report on Wednesday, June 26th. They set an equal weight rating and a $62.00 price objective on the stock. Loop Capital increased their price objective on FMC from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, March 19th. Finally, KeyCorp increased their price objective on FMC from $79.00 to $81.00 and gave the stock an overweight rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $69.71.

FMC Stock Down 3.2 %

Shares of NYSE FMC opened at $59.95 on Tuesday. FMC has a one year low of $49.49 and a one year high of $96.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.46 and a quick ratio of 1.02. The business’s fifty day moving average price is $58.84 and its 200-day moving average price is $58.88. The stock has a market capitalization of $7.48 billion, a PE ratio of 6.69, a P/E/G ratio of 1.43 and a beta of 0.84.

FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. FMC had a return on equity of 7.68% and a net margin of 27.65%. The firm had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business’s revenue for the quarter was down 31.7% compared to the same quarter last year. On average, equities research analysts anticipate that FMC will post 3.51 EPS for the current year.

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, June 28th were given a dividend of $0.58 per share. The ex-dividend date was Friday, June 28th. This represents a $2.32 annualized dividend and a dividend yield of 3.87%. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Hedge Funds Weigh In On FMC

Institutional investors have recently modified their holdings of the company. North Point Portfolio Managers Corp OH increased its position in shares of 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 valued at $7,473,000 after purchasing an additional 47,697 shares during the last quarter. Norden Group LLC bought a new position in FMC during the 1st quarter worth approximately $4,700,000. Leeward Investments LLC MA grew its position in FMC by 62.8% during the 1st quarter. Leeward Investments LLC MA now owns 193,156 shares of the basic materials company’s stock worth $12,304,000 after acquiring an additional 74,529 shares during the last quarter. S&CO Inc. grew its position in FMC by 6.7% during the 4th quarter. S&CO Inc. now owns 235,126 shares of the basic materials company’s stock worth $14,824,000 after acquiring an additional 14,710 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in FMC by 0.5% in the 4th quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock worth $7,262,000 after buying an additional 610 shares during the period. 91.86% of the stock is currently owned by institutional investors.

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.