Nomura Boosts FMC Corporation (FMC) Price Target to $106.00
FMC Corporation (NYSE:FMC) had its price target raised by Nomura from $97.00 to $106.00 in a research note issued to investors on Wednesday. The firm currently has a buy rating on the basic materials company’s stock.
Several other brokerages have also recently weighed in on FMC. KeyCorp upped their price target on FMC Corporation from $98.00 to $105.00 and gave the stock a buy rating in a research note on Monday, October 16th. Jefferies Group LLC reaffirmed a buy rating and issued a $108.00 price target on shares of FMC Corporation in a research note on Thursday, October 12th. Piper Jaffray Companies set a $85.00 price target on FMC Corporation and gave the stock a hold rating in a research note on Friday, October 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $93.00 price target on shares of FMC Corporation in a research note on Wednesday, October 11th. Finally, Robert W. Baird reaffirmed a hold rating and issued a $86.00 price target on shares of FMC Corporation in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $90.94.
Shares of FMC Corporation (NYSE:FMC) traded up $1.06 during mid-day trading on Wednesday, reaching $93.22. The company had a trading volume of 733,600 shares, compared to its average volume of 1,143,558. The stock has a market capitalization of $12,515.90, a PE ratio of 37.44, a price-to-earnings-growth ratio of 3.12 and a beta of 1.62. FMC Corporation has a 12 month low of $52.24 and a 12 month high of $95.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.91 and a current ratio of 2.19.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company had revenue of $646.20 million for the quarter, compared to analysts’ expectations of $686.21 million. FMC Corporation had a return on equity of 16.77% and a net margin of 0.78%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. equities research analysts predict that FMC Corporation will post 2.66 earnings per share for the current year.
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In other news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction 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 directly owns 131,639 shares of the company’s stock, valued at $11,057,676. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Advisor Partners LLC bought a new position in shares of FMC Corporation during the third quarter valued at $216,000. Achmea Investment Management B.V. bought a new position in shares of FMC Corporation during the third quarter valued at $246,000. Nordea Investment Management AB lifted its holdings in shares of FMC Corporation by 99.7% during the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after purchasing an additional 4,015 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of FMC Corporation during the third quarter valued at $831,000. Finally, Hanseatic Management Services Inc. lifted its holdings 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 purchasing an additional 1,688 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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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