Analysts Set FMC Corporation (NYSE:FMC) PT at $24.92

Shares of FMC Corporation (NYSE:FMC) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.9231.

A number of brokerages have recently issued reports on FMC. Citigroup lifted their target price on FMC from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Morgan Stanley dropped their price objective on FMC from $38.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, November 3rd. Wall Street Zen lowered FMC from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Zacks Research raised shares of FMC from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Finally, The Goldman Sachs Group cut their price target on shares of FMC from $43.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, November 3rd.

Insider Buying and Selling

In other news, Director John Mitchell Raines purchased 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $13.77 per share, for a total transaction of $96,390.00. Following the completion of the purchase, the director owned 13,784 shares of the company’s stock, valued at approximately $189,805.68. This trade represents a 103.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of FMC by 104.9% in the 4th quarter. SG Americas Securities LLC now owns 200,326 shares of the basic materials company’s stock valued at $2,779,000 after acquiring an additional 102,545 shares during the last quarter. Armistice Capital LLC acquired a new position in FMC in the third quarter worth $204,000. Entropy Technologies LP bought a new stake in FMC during the third quarter valued at $267,000. Cary Street Partners Financial LLC raised its holdings in shares of FMC by 26.0% during the third quarter. Cary Street Partners Financial LLC now owns 18,173 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 3,749 shares during the period. Finally, Inspire Trust Co. N.A. lifted its position in shares of FMC by 60.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the basic materials company’s stock worth $4,708,000 after buying an additional 52,900 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

FMC Trading Down 0.2%

FMC opened at $16.10 on Friday. The firm has a market capitalization of $2.01 billion, a P/E ratio of -3.80, a P/E/G ratio of 0.96 and a beta of 0.65. The firm’s 50 day moving average is $14.13 and its 200-day moving average is $26.24. FMC has a 52-week low of $12.17 and a 52-week high of $57.00. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.86.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. FMC had a negative net margin of 14.81% and a positive return on equity of 10.40%. The business had revenue of $542.20 million during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was down 49.1% compared to the same quarter last year. Analysts expect that FMC will post 3.48 EPS for the current fiscal year.

FMC Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, December 31st. FMC’s dividend payout ratio is -7.55%.

About FMC

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.