FMC (NYSE:FMC) Price Target Raised to $61.00

FMC (NYSE:FMC) had its price objective boosted by analysts at Citigroup from $55.00 to $61.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Citigroup’s target price points to a potential upside of 8.07% from the company’s current price.

A number of other research analysts have also recently commented on FMC. UBS Group reduced their price objective on FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. KeyCorp decreased their price target on FMC from $79.00 to $69.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Mizuho dropped their price objective on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Barclays raised shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 target price on the stock in a research report on Tuesday, January 21st. Finally, Bank of America raised shares of FMC from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $61.00 in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FMC has an average rating of “Hold” and an average target price of $63.75.

FMC Stock Up 0.2 %

FMC opened at $56.45 on Wednesday. The company has a market cap of $7.05 billion, a PE ratio of 4.86, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. FMC has a 1 year low of $47.71 and a 1 year high of $68.72. The firm has a 50 day moving average price of $53.72 and a 200 day moving average price of $58.95.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that FMC will post 3.34 earnings per share for the current year.

Insider Activity

In other news, EVP Michael Finian Reilly sold 2,958 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the transaction, the executive vice president now directly owns 25,468 shares in the company, valued at approximately $1,407,107. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline Scanlan sold 4,529 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,491 shares of company stock worth $433,898. 0.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FMC

Several institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in FMC by 27.3% during the 3rd quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock valued at $417,151,000 after purchasing an additional 1,343,615 shares during the period. Ilex Capital Partners UK LLP lifted its stake in FMC by 2,129.4% in the third quarter. Ilex Capital Partners UK LLP now owns 440,353 shares of the basic materials company’s stock valued at $29,037,000 after buying an additional 420,601 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of FMC by 2,531.3% during the third quarter. Mizuho Securities USA LLC now owns 253,179 shares of the basic materials company’s stock valued at $16,695,000 after acquiring an additional 243,557 shares during the period. BNP Paribas Financial Markets grew its position in shares of FMC by 139.6% during the third quarter. BNP Paribas Financial Markets now owns 187,028 shares of the basic materials company’s stock worth $12,333,000 after acquiring an additional 108,978 shares during the last quarter. Finally, ING Groep NV acquired a new stake in shares of FMC in the 3rd quarter worth about $6,904,000. 91.86% of the stock is owned by 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 includes 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.