FMC Corporation (FMC) Earns “Hold” Rating from Piper Jaffray Companies
Piper Jaffray Companies restated their hold rating on shares of FMC Corporation (NYSE:FMC) in a report issued on Friday morning. They currently have a $92.00 price objective on the basic materials company’s stock.
A number of other research analysts have also issued reports on the stock. Bank of America Corporation upgraded shares of FMC Corporation from an underperform rating to a buy rating and boosted their price target for the stock from $66.00 to $103.00 in a research note on Thursday, August 31st. Zacks Investment Research downgraded shares of FMC Corporation from a buy rating to a hold rating in a report on Friday, July 14th. Robert W. Baird reissued a hold rating and set a $86.00 price objective on shares of FMC Corporation in a report on Tuesday, September 12th. Seaport Global Securities downgraded shares of FMC Corporation from a buy rating to a neutral rating and decreased their price objective for the stock from $82.00 to $80.00 in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a buy rating and set a $100.00 price objective on shares of FMC Corporation in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $90.94.
FMC Corporation (NYSE FMC) opened at $94.88 on Friday. FMC Corporation has a one year low of $52.24 and a one year high of $95.25. The company has a current ratio of 2.19, a quick ratio of 1.81 and a debt-to-equity ratio of 0.70. The stock has a market cap of $12,515.88, a PE ratio of 37.44, a PEG ratio of 3.12 and a beta of 1.62.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. FMC Corporation had a net margin of 0.78% and a return on equity of 16.77%. The business had revenue of $646.20 million for the quarter, compared to analyst estimates of $686.21 million. During the same period in the previous year, the business posted $0.67 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. research analysts predict that FMC Corporation will post 2.66 EPS for the current year.
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In related news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the transaction, the vice president now owns 131,639 shares of the company’s stock, valued at $11,057,676. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can lifted its stake in shares of FMC Corporation by 0.6% during the third quarter. Great West Life Assurance Co. Can now owns 91,917 shares of the basic materials company’s stock valued at $8,077,000 after buying an additional 572 shares during the period. Gabelli Funds LLC lifted its stake in shares of FMC Corporation by 1.8% during the third quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock valued at $3,090,000 after buying an additional 600 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of FMC Corporation by 6.3% during the second quarter. Xact Kapitalforvaltning AB now owns 22,519 shares of the basic materials company’s stock valued at $1,645,000 after buying an additional 1,336 shares during the period. Hanseatic Management Services Inc. lifted its stake in shares of FMC Corporation by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock valued at $1,048,000 after buying an additional 1,688 shares during the period. Finally, Advisor Partners LLC purchased a new position in shares of FMC Corporation during the third quarter valued at approximately $216,000. 90.69% of the stock is currently owned by institutional investors and hedge funds.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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