BNP Paribas downgraded shares of FMC (NYSE:FMC – Free Report) from an outperform rating to a neutral rating in a report published on Wednesday, Marketbeat.com reports. The firm currently has $56.00 price target on the basic materials company’s stock.
FMC has been the subject of a number of other reports. StockNews.com upgraded FMC from a sell rating to a hold rating in a report on Wednesday, November 1st. The Goldman Sachs Group restated a neutral rating and issued a $59.00 target price (down from $135.00) on shares of FMC in a research note on Tuesday, October 24th. KeyCorp reduced their target price on FMC from $83.00 to $80.00 and set an overweight rating for the company in a research note on Tuesday, January 9th. Mizuho reduced their target price on FMC from $59.00 to $55.00 and set a neutral rating for the company in a research note on Tuesday. Finally, Bank of America downgraded FMC from a neutral rating to an underperform rating and reduced their target price for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, FMC has an average rating of Hold and a consensus price target of $78.24.
FMC Stock Performance
FMC (NYSE:FMC – Get Free Report) last issued its quarterly earnings results 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). FMC had a return on equity of 12.98% and a net margin of 29.45%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business posted $2.37 earnings per share. Sell-side analysts expect that FMC will post 4.19 EPS for the current year.
FMC Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Friday, December 29th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.32 annualized dividend and a dividend yield of 4.48%. FMC’s dividend payout ratio is currently 22.03%.
Insiders Place Their Bets
In other news, Director Robert C. Pallash bought 3,845 shares of the company’s stock in a transaction on Monday, November 27th. The shares were purchased at an average price of $52.48 per share, with a total value of $201,785.60. Following the transaction, the director now directly owns 47,871 shares in the company, valued at $2,512,270.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company’s stock.
Hedge Funds Weigh In On FMC
Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its stake in FMC by 68.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 93 shares during the last quarter. CVA Family Office LLC purchased a new position in FMC in the fourth quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new position in FMC in the fourth quarter valued at approximately $31,000. Quintet Private Bank Europe S.A. purchased a new position in FMC in the third quarter valued at approximately $33,000. Finally, Spire Wealth Management lifted its stake in FMC by 143.1% in the third quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.
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.
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