FMC Corporation (NYSE:FMC) Downgraded to Neutral at Seaport Global Securities

FMC Corporation (NYSE:FMC) was downgraded by equities researchers at Seaport Global Securities from a “buy” rating to a “neutral” rating in a report issued on Tuesday.

Several other research analysts have also recently issued reports on the stock. Credit Suisse Group set a $85.00 target price on shares of FMC Corporation and gave the stock a “buy” rating in a report on Thursday, May 4th. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 target price on shares of FMC Corporation in a report on Tuesday, March 28th. Citigroup Inc. raised their target price on shares of FMC Corporation from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, April 11th. Robert W. Baird started coverage on shares of FMC Corporation in a report on Wednesday, March 22nd. They issued a “neutral” rating and a $67.00 target price on the stock. Finally, TheStreet upgraded shares of FMC Corporation from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.81.

Shares of FMC Corporation (FMC) opened at 76.78 on Tuesday. FMC Corporation has a 1-year low of $44.40 and a 1-year high of $77.38. The stock has a 50 day moving average of $75.10 and a 200-day moving average of $65.96. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 287.57 and a beta of 1.62.

FMC Corporation (NYSE:FMC) last issued its earnings results on Tuesday, May 2nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.13. FMC Corporation had a return on equity of 17.87% and a net margin of 1.19%. The firm had revenue of $596 million during the quarter, compared to the consensus estimate of $742.50 million. Analysts forecast that FMC Corporation will post $2.45 earnings per share for the current year.

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In other news, insider Mark Douglas sold 12,697 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.82, for a total transaction of $962,686.54. Following the sale, the insider now owns 73,690 shares in the company, valued at approximately $5,587,175.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William Howard Powell sold 3,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.73, for a total transaction of $218,190.00. Following the sale, the director now owns 17,554 shares in the company, valued at approximately $1,276,702.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,489 shares of company stock worth $3,118,310. Company insiders own 1.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in shares of FMC Corporation by 1.1% in the first quarter. LS Investment Advisors LLC now owns 6,298 shares of the basic materials company’s stock worth $438,000 after buying an additional 67 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of FMC Corporation by 0.5% in the first quarter. Mutual of America Capital Management LLC now owns 16,111 shares of the basic materials company’s stock worth $1,121,000 after buying an additional 88 shares during the period. Bank of The West boosted its stake in shares of FMC Corporation by 1.8% in the first quarter. Bank of The West now owns 5,200 shares of the basic materials company’s stock worth $362,000 after buying an additional 90 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of FMC Corporation by 0.7% in the first quarter. Meeder Asset Management Inc. now owns 13,542 shares of the basic materials company’s stock worth $942,000 after buying an additional 97 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of FMC Corporation by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,569 shares of the basic materials company’s stock worth $232,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.

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.

Analyst Recommendations for FMC Corporation (NYSE:FMC)

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