Citigroup Cuts FMC (NYSE:FMC) Price Target to $55.00

FMC (NYSE:FMC) had its target price trimmed by Citigroup from $70.00 to $55.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Several other equities research analysts have also recently issued reports on the company. Mizuho lifted their target price on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FMC presently has an average rating of “Hold” and a consensus target price of $65.69.

FMC Stock Up 4.8 %

NYSE FMC opened at $50.15 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. FMC has a 12 month low of $47.73 and a 12 month high of $68.72. The stock’s 50 day moving average is $58.90 and its 200 day moving average is $59.88. The stock has a market cap of $6.26 billion, a PE ratio of 4.32, a P/E/G ratio of 1.48 and a beta of 0.80.

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. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Research analysts predict that FMC will post 3.35 EPS for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Tuesday, December 31st. FMC’s dividend payout ratio is currently 19.97%.

Insider Buying and Selling

In related news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FMC

Several hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FMC by 28.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,244 shares of the basic materials company’s stock worth $992,000 after purchasing an additional 3,822 shares during the last quarter. New York State Teachers Retirement System grew its stake in FMC by 0.5% in the 2nd quarter. New York State Teachers Retirement System now owns 123,292 shares of the basic materials company’s stock worth $7,095,000 after acquiring an additional 576 shares in the last quarter. Addison Capital Co increased its position in shares of FMC by 5.9% during the second quarter. Addison Capital Co now owns 27,331 shares of the basic materials company’s stock worth $1,573,000 after acquiring an additional 1,527 shares during the period. Bank of New York Mellon Corp raised its stake in shares of FMC by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock valued at $49,385,000 after acquiring an additional 17,381 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of FMC by 9.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,240 shares of the basic materials company’s stock valued at $532,000 after purchasing an additional 773 shares during the period. Institutional investors 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.