FMC (NYSE:FMC) Price Target Raised to $65.00 at Barclays

FMC (NYSE:FMC) had its price target lifted by Barclays from $62.00 to $65.00 in a research note released on Monday, Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other research analysts have also commented on FMC. KeyCorp dropped their price objective on shares of FMC from $81.00 to $79.00 and set an overweight rating for the company in a research note on Friday, August 2nd. StockNews.com upgraded shares of FMC from a sell rating to a hold rating in a report on Wednesday, May 8th. Wells Fargo & Company decreased their price objective on shares of FMC from $68.00 to $62.00 and set an equal weight rating for the company in a research note on Tuesday, July 16th. Mizuho upped their target price on FMC from $55.00 to $57.00 and gave the company a neutral rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price target on FMC from $53.00 to $50.00 and set a neutral rating for the company in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $68.06.

FMC Stock Performance

Shares of NYSE:FMC opened at $61.44 on Monday. The firm has a fifty day simple moving average of $57.74 and a two-hundred day simple moving average of $58.92. FMC has a 52 week low of $49.49 and a 52 week high of $90.33. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.67 billion, a P/E ratio of 6.86, a PEG ratio of 1.65 and a beta of 0.84.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, analysts expect that FMC will post 3.17 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a $0.58 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 3.78%. FMC’s dividend payout ratio is currently 25.89%.

Hedge Funds Weigh In On FMC

A number of large investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in shares of FMC during the first quarter valued at about $27,000. Financial Connections Group Inc. purchased a new stake in FMC during the fourth quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. boosted its stake in FMC by 114.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 303 shares in the last quarter. LRI Investments LLC purchased a new position in FMC in the first quarter worth $39,000. Finally, UMB Bank n.a. increased its position in shares of FMC by 56.9% during the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 246 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.