FMC Corporation (FMC) Rating Reiterated by KeyCorp
KeyCorp restated their buy rating on shares of FMC Corporation (NYSE:FMC) in a research report released on Wednesday. KeyCorp currently has a $98.00 price target on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada upped their price objective on FMC Corporation from $83.00 to $93.00 and gave the stock an outperform rating in a research report on Friday, August 4th. Jefferies Group LLC restated a buy rating and issued a $100.00 price objective on shares of FMC Corporation in a research report on Friday, September 15th. Zacks Investment Research upgraded FMC Corporation from a hold rating to a strong-buy rating and set a $103.00 price objective on the stock in a research report on Tuesday, October 3rd. Bank of America Corporation upgraded FMC Corporation from an underperform rating to a buy rating and upped their price objective for the stock from $66.00 to $103.00 in a research report on Thursday, August 31st. Finally, BMO Capital Markets upped their price objective on FMC Corporation from $75.00 to $80.00 and gave the stock a market perform rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FMC Corporation currently has a consensus rating of Buy and a consensus price target of $87.49.
FMC Corporation (FMC) traded down 0.61% during trading on Wednesday, hitting $91.16. 1,055,322 shares of the company were exchanged. The firm’s 50 day moving average price is $87.71 and its 200-day moving average price is $77.90. FMC Corporation has a 1-year low of $45.77 and a 1-year high of $93.44. The stock has a market capitalization of $12.23 billion, a PE ratio of 270.50 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The company had revenue of $656.80 million for the quarter, compared to the consensus estimate of $614.01 million. During the same quarter in the prior year, the company earned $0.46 EPS. FMC Corporation’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts predict that FMC Corporation will post $2.43 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. FMC Corporation’s dividend payout ratio (DPR) is 188.58%.
In other news, VP Andrea E. Utecht sold 14,174 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was 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 in the company, valued at approximately $11,057,676. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Aviance Capital Management LLC acquired a new position in FMC Corporation in the 1st quarter valued at $200,000. United Capital Financial Advisers LLC acquired a new position in FMC Corporation in the 1st quarter valued at $202,000. Cleararc Capital Inc. acquired a new position in FMC Corporation in the 1st quarter valued at $226,000. Virginia Retirement Systems ET AL acquired a new position in FMC Corporation in the 1st quarter valued at $230,000. Finally, RiverPoint Capital Management LLC raised its stake in FMC Corporation by 4.4% in the 1st quarter. RiverPoint Capital Management LLC now owns 4,825 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.
FMC Corporation Company Profile
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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