FMC Corporation (NYSE:FMC) Downgraded by BidaskClub
BidaskClub lowered shares of FMC Corporation (NYSE:FMC) from a strong-buy rating to a buy rating in a research report released on Friday morning.
Other analysts have also issued reports about the company. UBS AG raised FMC Corporation from a neutral rating to a positive rating in a research note on Monday, April 3rd. SunTrust Banks, Inc. raised FMC Corporation from a hold rating to a buy rating and lifted their price target for the stock from $58.00 to $82.00 in a research note on Monday, April 3rd. They noted that the move was a valuation call. Instinet lifted their price target on FMC Corporation from $61.00 to $74.00 and gave the stock a neutral rating in a research note on Monday, April 3rd. Jefferies Group LLC reaffirmed a buy rating on shares of FMC Corporation in a research note on Wednesday, May 24th. Finally, Susquehanna Bancshares Inc raised FMC Corporation from a neutral rating to a positive rating and set a $86.00 price target on the stock in a research note on Monday, April 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $76.98.
Shares of FMC Corporation (FMC) traded down 0.55% during mid-day trading on Friday, hitting $75.96. The stock had a trading volume of 123,116 shares. FMC Corporation has a one year low of $44.40 and a one year high of $78.30. The stock has a market cap of $10.18 billion, a P/E ratio of 284.49 and a beta of 1.62. The firm has a 50 day moving average of $75.51 and a 200-day moving average of $68.79.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.13. The firm had revenue of $596 million during the quarter, compared to analyst estimates of $742.50 million. FMC Corporation had a return on equity of 17.87% and a net margin of 1.19%. Equities research analysts expect that FMC Corporation will post $2.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors 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 yield of 0.86%. FMC Corporation’s payout ratio is 235.72%.
In other FMC Corporation news, insider Mark Douglas sold 12,697 shares of FMC Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total value of $962,686.54. Following the sale, the insider now owns 73,690 shares in the company, valued at $5,587,175.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Howard Powell sold 3,000 shares of FMC Corporation stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.73, for a total value of $218,190.00. Following the completion of the sale, the director now owns 17,554 shares in the company, valued at approximately $1,276,702.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,489 shares of company stock worth $3,118,310. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Braun Stacey Associates Inc. increased its stake in FMC Corporation by 2.4% in the second quarter. Braun Stacey Associates Inc. now owns 165,935 shares of the basic materials company’s stock worth $12,121,000 after buying an additional 3,940 shares in the last quarter. US Bancorp DE increased its stake in FMC Corporation by 51.9% in the second quarter. US Bancorp DE now owns 17,182 shares of the basic materials company’s stock worth $1,254,000 after buying an additional 5,873 shares in the last quarter. Aperio Group LLC increased its stake in FMC Corporation by 5.7% in the second quarter. Aperio Group LLC now owns 46,329 shares of the basic materials company’s stock worth $3,384,000 after buying an additional 2,485 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in FMC Corporation by 6.3% in the second quarter. Xact Kapitalforvaltning AB now owns 22,519 shares of the basic materials company’s stock worth $1,645,000 after buying an additional 1,336 shares in the last quarter. Finally, Columbia Partners L L C Investment Management increased its stake in FMC Corporation by 47.2% in the first quarter. Columbia Partners L L C Investment Management now owns 20,880 shares of the basic materials company’s stock worth $1,453,000 after buying an additional 6,699 shares in the last quarter. Institutional investors own 90.19% 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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