FMC (NYSE:FMC) Given New $66.00 Price Target at UBS Group

FMC (NYSE:FMC) had its price objective decreased by investment analysts at UBS Group from $75.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price suggests a potential upside of 33.66% from the stock’s previous close.

FMC has been the topic of a number of other reports. Citigroup decreased their price target on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Mizuho increased their price target on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.69.

FMC Stock Performance

Shares of FMC stock traded up $1.52 during midday trading on Friday, hitting $49.38. The company had a trading volume of 578,606 shares, compared to its average volume of 1,648,786. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 4.25, a PEG ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The company’s 50 day simple moving average is $58.90 and its 200 day simple moving average is $59.88. FMC has a 52-week low of $47.73 and a 52-week high of $68.72.

FMC (NYSE:FMC) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned $0.44 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Research analysts anticipate that FMC will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the sale, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FMC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millburn Ridgefield Corp raised its position in FMC by 186.2% in the third quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 324 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of FMC by 90.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares during the period. Mather Group LLC. lifted its position in FMC by 250.6% during the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 396 shares in the last quarter. UMB Bank n.a. lifted its position in FMC by 56.9% during the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in FMC in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

About FMC

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.