FMC (NYSE:FMC – Free Report) had its target price trimmed by BMO Capital Markets from $63.00 to $61.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the basic materials company’s stock.
Other equities analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $61.00 price objective on shares of FMC in a research note on Friday, November 17th. Bank of America lowered FMC from a neutral rating to an underperform rating and dropped their price target for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. BNP Paribas lowered FMC from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a research note on Wednesday. Mizuho dropped their price target on FMC from $59.00 to $55.00 and set a neutral rating for the company in a research note on Tuesday. Finally, KeyCorp dropped their price target on FMC from $80.00 to $76.00 and set an overweight rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $78.24.
FMC Stock Performance
FMC (NYSE:FMC – Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.25 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. During the same period last year, the company earned $2.37 EPS. As a group, equities research analysts predict that FMC will post 4.19 EPS for the current fiscal year.
FMC Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Friday, December 29th were issued a $0.58 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.32 annualized dividend and a dividend yield of 4.48%. FMC’s payout ratio is 22.03%.
Insider Transactions at FMC
In other FMC news, Director Robert C. Pallash purchased 3,845 shares of FMC stock in a transaction dated Monday, November 27th. The shares were purchased at an average cost of $52.48 per share, for a total transaction of $201,785.60. Following the completion of the acquisition, the director now owns 47,871 shares in the company, valued at approximately $2,512,270.08. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.
Institutional Investors Weigh In On FMC
Several hedge funds and other institutional investors have recently modified their holdings of the business. Team Hewins LLC purchased a new position in FMC during the 4th quarter worth $201,000. US Bancorp DE increased its holdings in FMC by 7.9% during the 4th quarter. US Bancorp DE now owns 12,338 shares of the basic materials company’s stock worth $778,000 after purchasing an additional 901 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in FMC by 42.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,477 shares of the basic materials company’s stock worth $471,000 after purchasing an additional 2,243 shares during the period. BlackDiamond Wealth Management LLC increased its holdings in FMC by 86.3% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 8,869 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 4,108 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in FMC during the 4th quarter worth $2,760,000. 86.91% of the stock is currently owned by hedge funds and other institutional investors.
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 include 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.
- Five stocks we like better than FMC
- Mega Cap Stocks: What They Are and How to Invest
- Cloudflare results spark analysts reset: 25% upside ahead
- How to Invest in Communication Stocks
- Beyond Nvidia: The hidden stars with 200% earnings growth
- Utilities Stocks Explained – How and Why to Invest in Utilities
- 3 large caps with RSIs that scream ‘oversold’
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.