FMC (NYSE:FMC) Lowered to Hold at Loop Capital

FMC (NYSE:FMCGet Rating) was downgraded by equities researchers at Loop Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, The Fly reports.

FMC has been the subject of several other reports. Morgan Stanley increased their price objective on shares of FMC from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, February 11th. Redburn Partners began coverage on shares of FMC in a report on Monday, January 31st. They issued a “buy” rating for the company. UBS Group reduced their price objective on shares of FMC from $134.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday, January 4th. Wells Fargo & Company lifted their price objective on shares of FMC from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, April 6th. Finally, StockNews.com initiated coverage on shares of FMC in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, FMC presently has a consensus rating of “Buy” and an average target price of $128.27.

FMC stock opened at $138.59 on Thursday. The company has a fifty day moving average price of $124.61 and a 200-day moving average price of $110.38. The company has a market capitalization of $17.45 billion, a P/E ratio of 24.31, a PEG ratio of 1.61 and a beta of 0.88. FMC has a 52-week low of $87.27 and a 52-week high of $139.09. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.40.

FMC (NYSE:FMCGet Rating) last released its quarterly earnings results on Tuesday, February 8th. The basic materials company reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.14. FMC had a net margin of 14.60% and a return on equity of 29.16%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, sell-side analysts forecast that FMC will post 7.74 earnings per share for the current fiscal year.

FMC declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

In related news, EVP Michael Finian Reilly sold 4,915 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $115.41, for a total transaction of $567,240.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Sandifer sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $119.36, for a total transaction of $179,040.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,096 shares of company stock valued at $1,306,961. 0.57% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its stake in FMC by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,587 shares of the basic materials company’s stock worth $1,273,000 after buying an additional 96 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of FMC by 1.6% in the 4th quarter. Baird Financial Group Inc. now owns 6,311 shares of the basic materials company’s stock worth $694,000 after acquiring an additional 99 shares during the last quarter. Sustainable Insight Capital Management LLC lifted its holdings in shares of FMC by 4.4% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 2,417 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 102 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of FMC by 1.8% in the 4th quarter. Keybank National Association OH now owns 6,255 shares of the basic materials company’s stock worth $687,000 after acquiring an additional 108 shares during the last quarter. Finally, Veritable L.P. lifted its holdings in shares of FMC by 1.9% in the 3rd quarter. Veritable L.P. now owns 6,206 shares of the basic materials company’s stock worth $568,000 after acquiring an additional 116 shares during the last quarter. 88.63% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile (Get Rating)

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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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