FMC (NYSE:FMC) Given New $55.00 Price Target at Citigroup

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

FMC has been the topic of a number of other research reports. Mizuho lifted their price target on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, FMC presently has an average rating of “Hold” and a consensus price target of $67.08.

FMC Stock Performance

NYSE:FMC opened at $49.11 on Wednesday. The firm’s 50-day moving average is $59.15 and its 200-day moving average is $59.96. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 4.23, a PEG ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. FMC has a 52-week low of $49.05 and a 52-week high of $68.72.

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

FMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a yield of 4.72%. FMC’s dividend payout ratio is 19.97%.

Insiders Place Their Bets

In other news, VP Jacqueline Scanlan sold 4,529 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 valued at $992,000 after acquiring an additional 3,822 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of FMC by 0.5% during the second quarter. New York State Teachers Retirement System now owns 123,292 shares of the basic materials company’s stock worth $7,095,000 after buying an additional 576 shares during the last quarter. Addison Capital Co lifted its holdings in FMC by 5.9% in the second quarter. Addison Capital Co now owns 27,331 shares of the basic materials company’s stock valued at $1,573,000 after buying an additional 1,527 shares during the period. Bank of New York Mellon Corp boosted its stake in FMC by 2.1% in 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in FMC by 9.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,240 shares of the basic materials company’s stock worth $532,000 after acquiring an additional 773 shares during the period. 91.86% of the stock is currently owned by 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.