FMC (NYSE:FMC) Price Target Cut to $79.00

FMC (NYSE:FMC) had its target price decreased by KeyCorp from $81.00 to $79.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would suggest a potential upside of 29.38% from the company’s current price.

Several other research firms also recently weighed in on FMC. Wells Fargo & Company cut their price objective on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Mizuho boosted their price target on FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. StockNews.com upgraded shares of FMC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of FMC from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.59.

FMC Price Performance

FMC stock traded down $3.28 during mid-day trading on Friday, hitting $61.06. The stock had a trading volume of 932,439 shares, compared to its average volume of 1,977,252. The firm has a fifty day simple moving average of $57.74 and a 200 day simple moving average of $58.74. FMC has a 52 week low of $49.49 and a 52 week high of $94.07. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $7.62 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.38 and a beta of 0.84.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.13. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.78%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. As a group, research analysts forecast that FMC will post 3.43 EPS for the current year.

Hedge Funds Weigh In On FMC

Hedge funds have recently modified their holdings of the company. Raymond James & Associates grew its stake in shares of FMC by 0.5% during the 4th quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock worth $7,262,000 after acquiring an additional 610 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of FMC by 8.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,093 shares of the basic materials company’s stock worth $1,456,000 after purchasing an additional 1,888 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of FMC by 36.7% during the 4th quarter. Fifth Third Bancorp now owns 10,095 shares of the basic materials company’s stock valued at $636,000 after buying an additional 2,711 shares in the last quarter. Ballentine Partners LLC bought a new position in FMC in the 4th quarter worth approximately $378,000. Finally, International Assets Investment Management LLC purchased a new position in FMC during the 4th quarter valued at about $5,705,000. 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.