Zacks Investment Research lowered shares of FMC (NYSE:FMC) from a strong-buy rating to a hold rating in a report published on Thursday, January 4th.
According to Zacks, “FMC Corp. has outperformed the industry it belongs to over a year. The company is seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. The acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. The company should also gain from its efforts to expand product portfolio. However, FMC Corp. is faced with challenging agriculture market fundamentals, especially in Latin America. It is also exposed to headwind from weak prices in its agriculture unit. The company’s stretched valuation is another concern.”
Several other analysts also recently issued reports on FMC. Jefferies Group reissued a buy rating and set a $100.00 price target on shares of FMC in a research report on Friday, September 15th. Loop Capital set a $106.00 price target on shares of FMC and gave the stock a buy rating in a research report on Monday, December 11th. BMO Capital Markets raised their price target on shares of FMC from $80.00 to $90.00 and gave the stock a market perform rating in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Bank of America raised their price target on shares of FMC from $103.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. Finally, Goldman Sachs Group assumed coverage on shares of FMC in a research report on Monday, December 4th. They set a neutral rating and a $98.00 price target for the company. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $94.80.
FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The business had revenue of $646.20 million for the quarter, compared to analyst estimates of $686.21 million. FMC had a net margin of 0.78% and a return on equity of 16.77%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. equities analysts anticipate that FMC will post 2.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 28th. FMC’s payout ratio is 45.21%.
In other news, insider Nicholas Pfeiffer sold 375 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $90.33, for a total transaction of $33,873.75. Following the transaction, the insider now directly owns 6,856 shares of the company’s stock, valued at $619,302.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Third Point LLC increased its stake in FMC by 10.0% in the 3rd quarter. Third Point LLC now owns 2,200,000 shares of the basic materials company’s stock worth $196,482,000 after purchasing an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in FMC by 134.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,014 shares of the basic materials company’s stock worth $25,334,000 after purchasing an additional 165,136 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in FMC in the 3rd quarter worth about $5,179,000. Segall Bryant & Hamill LLC increased its stake in FMC by 32.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 220,716 shares of the basic materials company’s stock worth $19,712,000 after purchasing an additional 53,702 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in FMC by 26.3% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 193,028 shares of the basic materials company’s stock worth $17,239,000 after acquiring an additional 40,184 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.
FMC 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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