FMC (NYSE:FMC) Price Target Lowered to $48.00 at Barclays

FMC (NYSE:FMC) had its price objective decreased by Barclays from $65.00 to $48.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the basic materials company’s stock.

FMC has been the topic of several other research reports. Bank of America reaffirmed an “underperform” rating and issued a $48.00 price objective (down previously from $61.00) on shares of FMC in a research note on Wednesday, February 5th. Morgan Stanley lowered their price target on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Citigroup increased their price objective on shares of FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets lowered their target price on shares of FMC from $62.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Finally, KeyCorp cut their price target on FMC from $79.00 to $69.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.00.

FMC Price Performance

Shares of NYSE:FMC opened at $34.51 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.64 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.31 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84. The firm’s 50 day moving average price is $51.99 and its 200-day moving average price is $58.39. FMC has a twelve month low of $33.80 and a twelve month high of $68.72.

FMC (NYSE:FMC) last released its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. Equities research analysts expect that FMC will post 3.53 EPS for the current year.

FMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend was Tuesday, December 31st. FMC’s dividend payout ratio is presently 85.29%.

Insiders Place Their Bets

In other news, EVP Michael Finian Reilly sold 2,958 shares of the company’s 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 sale, the executive vice president now directly owns 25,468 shares in the company, valued at approximately $1,407,107. This represents a 10.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On FMC

Several large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in FMC during the fourth quarter valued at $29,000. Millburn Ridgefield Corp boosted its holdings in shares of FMC by 186.2% in the third 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 during the period. First Horizon Advisors Inc. grew its stake in FMC by 90.8% in the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Mather Group LLC. increased its holdings in FMC by 250.6% during the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 396 shares during the period. Finally, IFP Advisors Inc raised its position in FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 379 shares in the last quarter. 91.86% of the stock is 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.