Piper Jaffray Companies set a $85.00 target price on FMC Corporation (NYSE:FMC) in a research report report published on Friday, October 6th. The brokerage currently has a hold rating on the basic materials company’s stock.
Several other equities analysts have also commented on FMC. Credit Suisse Group set a $85.00 price objective on shares of FMC Corporation and gave the company a buy rating in a research report on Monday, June 26th. Jefferies Group LLC reissued a buy rating and set a $84.00 price target on shares of FMC Corporation in a research report on Thursday, July 6th. Zacks Investment Research raised shares of FMC Corporation from a hold rating to a buy rating and set a $84.00 price objective on the stock in a research note on Monday, July 10th. Royal Bank Of Canada reaffirmed a buy rating and set a $83.00 price objective on shares of FMC Corporation in a research note on Wednesday, July 12th. Finally, Seaport Global Securities cut shares of FMC Corporation from a buy rating to a neutral rating and dropped their price objective for the stock from $82.00 to $80.00 in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $88.24.
Shares of FMC Corporation (NYSE:FMC) opened at 94.06 on Friday. FMC Corporation has a 1-year low of $45.91 and a 1-year high of $95.08. The company has a market cap of $12.62 billion, a PE ratio of 279.11 and a beta of 1.61. The firm’s 50 day moving average is $89.76 and its 200-day moving average is $79.79.
FMC Corporation (NYSE:FMC) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $656.80 million during the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. Equities analysts expect that FMC Corporation will post $2.43 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio is currently 188.58%.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,174 shares of FMC Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total value of $1,190,616.00. Following the completion of the transaction, the vice president now directly owns 131,639 shares of the company’s stock, valued at approximately $11,057,676. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Sandhill Capital Partners LLC grew its position in shares of FMC Corporation by 4.0% during the second quarter. Sandhill Capital Partners LLC now owns 244,848 shares of the basic materials company’s stock worth $17,886,000 after buying an additional 9,407 shares in the last quarter. Cibc World Markets Corp grew its position in shares of FMC Corporation by 35.5% during the second quarter. Cibc World Markets Corp now owns 18,936 shares of the basic materials company’s stock worth $1,383,000 after buying an additional 4,961 shares in the last quarter. Hanseatic Management Services Inc. grew its position in shares of FMC Corporation by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 1,688 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in FMC Corporation by 7.1% in the second quarter. New York State Common Retirement Fund now owns 327,500 shares of the basic materials company’s stock valued at $23,924,000 after purchasing an additional 21,799 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in FMC Corporation in the second quarter valued at approximately $1,667,000. 90.46% of the stock is owned by institutional investors and hedge funds.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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