Citigroup Issues Positive Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price lifted by Citigroup from $55.00 to $61.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

Several other analysts have also issued reports on the stock. Mizuho reduced their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Bank of America upgraded shares of FMC from an “underperform” rating to a “neutral” rating and cut their target price for the company from $63.00 to $61.00 in a research report on Tuesday, January 14th. UBS Group cut their target price on shares of FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada raised their target price on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, KeyCorp cut their target price on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Ten 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, the company has an average rating of “Hold” and an average price target of $63.75.

FMC Stock Performance

NYSE FMC opened at $56.39 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. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 4.85, a P/E/G ratio of 1.15 and a beta of 0.83. The firm’s 50 day simple moving average is $53.76 and its 200 day simple moving average is $58.97. FMC has a 1 year low of $47.71 and a 1 year high of $68.72.

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

FMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Tuesday, December 31st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Tuesday, December 31st. FMC’s dividend payout ratio is presently 19.97%.

Insider Buying and Selling

In other news, VP Jacqueline Scanlan sold 4,529 shares of FMC 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 completion of the transaction, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Finian Reilly sold 2,958 shares of FMC stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total transaction of $163,429.50. Following the transaction, the executive vice president now owns 25,468 shares of the company’s stock, valued at $1,407,107. This represents a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,491 shares of company stock valued at $433,898 over the last quarter. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Asset Management One Co. Ltd. grew its holdings in shares of FMC by 21.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,416 shares of the basic materials company’s stock valued at $167,000 after buying an additional 607 shares during the last quarter. Van ECK Associates Corp boosted its holdings in FMC by 8.5% during the fourth quarter. Van ECK Associates Corp now owns 589,054 shares of the basic materials company’s stock worth $28,634,000 after purchasing an additional 46,137 shares during the last quarter. International Private Wealth Advisors LLC boosted its holdings in FMC by 3.8% during the fourth quarter. International Private Wealth Advisors LLC now owns 5,604 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 205 shares during the last quarter. WCM Investment Management LLC boosted its holdings in FMC by 2.3% during the fourth quarter. WCM Investment Management LLC now owns 16,210 shares of the basic materials company’s stock worth $785,000 after purchasing an additional 358 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in FMC by 103.0% during the fourth quarter. Empowered Funds LLC now owns 38,560 shares of the basic materials company’s stock worth $1,874,000 after purchasing an additional 19,562 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

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.