FMC Co. (NYSE:FMC) Plans Quarterly Dividend of $0.58

FMC Co. (NYSE:FMC) announced a quarterly dividend on Friday, December 13th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.58 per share by the basic materials company on Thursday, January 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.26%.

FMC has raised its dividend by an average of 8.8% per year over the last three years. FMC has a payout ratio of 49.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FMC to earn $4.68 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 49.6%.

FMC Stock Performance

Shares of FMC stock opened at $54.50 on Friday. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 4.69, a P/E/G ratio of 1.48 and a beta of 0.80. FMC has a 1-year low of $50.03 and a 1-year high of $68.72. 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 stock’s fifty day simple moving average is $60.04 and its 200-day simple moving average is $60.25.

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

Insider Activity at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.67, for a total value of $270,245.43. Following the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FMC has been the subject of a number of research reports. Mizuho lifted their target price on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup began coverage on FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.00.

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.