Mizuho Issues Pessimistic Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price reduced by Mizuho from $70.00 to $55.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group reduced their target price on FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, December 20th. KeyCorp reduced their target price on FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Citigroup cut their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.92.

FMC Price Performance

Shares of NYSE:FMC opened at $51.13 on Tuesday. The company has a market cap of $6.38 billion, a P/E ratio of 4.40, a P/E/G ratio of 1.41 and a beta of 0.80. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. FMC has a 52 week low of $47.71 and a 52 week high of $68.72. The business has a fifty day simple moving average of $55.63 and a 200-day simple moving average of $59.28.

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

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Tuesday, December 31st. FMC’s dividend payout ratio is presently 19.97%.

Insider Activity

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the transaction, the vice president now directly owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of FMC

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millburn Ridgefield Corp grew its stake in FMC by 186.2% during the 3rd 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 in the last quarter. First Horizon Advisors Inc. boosted its stake 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 last quarter. Mather Group LLC. grew its position in shares of FMC by 250.6% during the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after buying an additional 396 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of FMC in the third quarter worth $51,000. Finally, Brooklyn Investment Group acquired a new stake in FMC in the third quarter valued at $52,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

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.