FMC (FMC) Given a $118.00 Price Target by Loop Capital Analysts
FMC (NYSE:FMC) has been assigned a $118.00 target price by equities research analysts at Loop Capital in a report released on Wednesday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Loop Capital’s target price would suggest a potential upside of 42.98% from the company’s previous close.
Several other equities research analysts also recently issued reports on FMC. Credit Suisse Group raised their price objective on shares of FMC from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday. Buckingham Research assumed coverage on shares of FMC in a research note on Wednesday, November 14th. They issued a “buy” rating and a $106.00 price objective on the stock. Citigroup set a $96.00 price objective on shares of FMC and gave the stock a “buy” rating in a research note on Sunday, November 11th. Finally, ValuEngine upgraded shares of FMC from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. FMC currently has an average rating of “Buy” and a consensus target price of $102.08.
Shares of FMC stock opened at $82.53 on Wednesday. FMC has a 12 month low of $72.73 and a 12 month high of $98.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.10 and a current ratio of 1.54. The company has a market cap of $11.21 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 0.88 and a beta of 1.63.
FMC declared that its Board of Directors has approved a stock repurchase program on Monday, December 3rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently modified their holdings of the stock. Marshall Wace LLP lifted its position in FMC by 827.1% in the third quarter. Marshall Wace LLP now owns 106,213 shares of the basic materials company’s stock worth $9,260,000 after purchasing an additional 94,757 shares during the period. Vanguard Group Inc. lifted its position in FMC by 0.4% in the third quarter. Vanguard Group Inc. now owns 14,445,070 shares of the basic materials company’s stock worth $1,259,321,000 after purchasing an additional 62,905 shares during the period. Legal & General Group Plc lifted its position in FMC by 1.5% in the third quarter. Legal & General Group Plc now owns 617,584 shares of the basic materials company’s stock worth $53,841,000 after purchasing an additional 8,963 shares during the period. Standard Life Aberdeen plc lifted its position in FMC by 13.1% in the third quarter. Standard Life Aberdeen plc now owns 35,416 shares of the basic materials company’s stock worth $3,087,000 after purchasing an additional 4,104 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in FMC by 56.0% in the third quarter. Neuberger Berman Group LLC now owns 20,716 shares of the basic materials company’s stock worth $1,806,000 after purchasing an additional 7,438 shares during the period. 90.07% of the stock is owned by hedge funds and other institutional investors.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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