FMC (NYSE:FMC) Price Target Lowered to $66.00 at UBS Group

FMC (NYSE:FMC) had its price target decreased by UBS Group from $75.00 to $66.00 in a report published on Friday,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

A number of other research firms also recently commented on FMC. Mizuho raised their target price on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup lowered their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FMC presently has a consensus rating of “Hold” and a consensus price target of $65.69.

FMC Stock Performance

FMC stock opened at $50.15 on Friday. FMC has a 1 year low of $47.73 and a 1 year high of $68.72. The company has a market cap of $6.26 billion, a P/E ratio of 4.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The stock’s fifty day moving average price is $58.90 and its 200-day moving average price is $59.88.

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

FMC Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.63%. FMC’s payout ratio is 19.97%.

Insider Buying and Selling

In other FMC 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 value of $270,245.43. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in FMC by 27.3% during the third quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock valued at $417,151,000 after purchasing an additional 1,343,615 shares in the last quarter. AQR Capital Management LLC boosted its holdings in FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock worth $63,160,000 after buying an additional 836,179 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in FMC in the 2nd quarter worth about $33,191,000. Ilex Capital Partners UK LLP increased its stake in FMC by 2,129.4% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 440,353 shares of the basic materials company’s stock worth $29,037,000 after buying an additional 420,601 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of FMC by 116.8% during the second quarter. Van ECK Associates Corp now owns 555,095 shares of the basic materials company’s stock valued at $31,946,000 after acquiring an additional 299,097 shares during the last quarter. Hedge funds and other 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.