FMC (NYSE:FMC) PT Raised to $155.00

FMC (NYSE:FMCGet Rating) had its price target hoisted by Mizuho from $136.00 to $155.00 in a research report issued to clients and investors on Friday, The Fly reports. Mizuho’s price objective would suggest a potential upside of 15.07% from the company’s current price.

Several other equities analysts have also commented on the stock. Morgan Stanley increased their price objective on shares of FMC from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, February 11th. Loop Capital downgraded shares of FMC from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Thursday, April 14th. Bank of America downgraded shares of FMC from a “buy” rating to an “underperform” rating and set a $128.00 price target on the stock. in a research note on Tuesday, March 22nd. Redburn Partners started coverage on shares of FMC in a research report on Monday, January 31st. They set a “buy” rating on the stock. Finally, Wells Fargo & Company raised their price target on shares of FMC from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $130.73.

Shares of FMC stock opened at $134.70 on Friday. FMC has a 12 month low of $87.27 and a 12 month high of $140.99. The stock has a market cap of $16.96 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.61 and a beta of 0.88. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a 50 day simple moving average of $128.98 and a two-hundred day simple moving average of $113.73.

FMC (NYSE:FMCGet Rating) last posted its quarterly earnings results on Tuesday, February 8th. The basic materials company reported $2.16 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s revenue was up 22.4% on a year-over-year basis. As a group, equities analysts forecast that FMC will post 7.74 earnings per share for the current year.

FMC declared that its board has initiated a stock repurchase program 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 programs are often a sign that the company’s leadership believes its stock is undervalued.

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

Several hedge funds have recently bought and sold shares of FMC. Cove Street Capital LLC grew its stake in shares of FMC by 19.4% in the third quarter. Cove Street Capital LLC now owns 57,337 shares of the basic materials company’s stock worth $5,250,000 after purchasing an additional 9,319 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of FMC by 5.0% in the 3rd quarter. King Luther Capital Management Corp now owns 3,008,812 shares of the basic materials company’s stock valued at $275,487,000 after purchasing an additional 144,214 shares during the period. Peapack Gladstone Financial Corp purchased a new position in FMC in the 3rd quarter worth about $1,812,000. Gamco Investors INC. ET AL increased its stake in FMC by 49.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 189,731 shares of the basic materials company’s stock worth $17,372,000 after purchasing an additional 62,380 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in FMC by 30.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 17,548 shares of the basic materials company’s stock worth $1,914,000 after purchasing an additional 4,059 shares in the last quarter. 88.63% of the stock is currently owned by institutional investors and hedge funds.

About FMC (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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