FMC (NYSE:FMC) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS

FMC (NYSE:FMCGet Rating) posted its earnings results on Monday. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.17, MarketWatch Earnings reports. FMC had a net margin of 14.60% and a return on equity of 29.16%. During the same period in the previous year, the company posted $1.53 earnings per share. FMC updated its FY22 guidance to $6.70-8.00 EPS.

Shares of FMC stock traded down $9.41 on Tuesday, reaching $122.37. 26,797 shares of the stock were exchanged, compared to its average volume of 867,599. 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 business has a fifty day moving average price of $129.60 and a two-hundred day moving average price of $114.65. FMC has a 1-year low of $87.27 and a 1-year high of $140.99. The firm has a market capitalization of $15.41 billion, a PE ratio of 21.55, a PEG ratio of 1.56 and a beta of 0.82.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, June 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.73%. FMC’s dividend payout ratio (DPR) is 37.19%.

FMC declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently issued reports on FMC shares. Seaport Res Ptn reaffirmed a “buy” rating on shares of FMC in a report on Tuesday, February 8th. StockNews.com started coverage on shares of FMC in a report on Thursday, March 31st. They issued a “buy” rating for the company. Redburn Partners started coverage on shares of FMC in a report on Monday, January 31st. They issued a “buy” rating for the company. UBS Group dropped 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. Finally, Wells Fargo & Company upped their target price on shares of FMC from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, FMC currently has an average rating of “Buy” and an average target price of $130.73.

In related news, CFO Andrew D. Sandifer sold 1,500 shares of the company’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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Finian Reilly sold 4,915 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $115.41, for a total transaction of $567,240.15. The disclosure for this sale can be found here. Insiders have sold 11,096 shares of company stock worth $1,306,961 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Amalgamated Bank increased its position in shares of FMC by 1.0% in the fourth quarter. Amalgamated Bank now owns 33,728 shares of the basic materials company’s stock worth $3,706,000 after acquiring an additional 337 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of FMC by 9.1% in the fourth quarter. Advisors Asset Management Inc. now owns 28,247 shares of the basic materials company’s stock worth $3,104,000 after acquiring an additional 2,360 shares in the last quarter. Toroso Investments LLC increased its position in shares of FMC by 20.0% in the fourth quarter. Toroso Investments LLC now owns 21,076 shares of the basic materials company’s stock worth $2,316,000 after acquiring an additional 3,510 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in FMC by 10.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 15,979 shares of the basic materials company’s stock valued at $1,756,000 after purchasing an additional 1,499 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in FMC by 13.2% during the 4th quarter. Glenmede Trust Co. NA now owns 12,502 shares of the basic materials company’s stock valued at $1,373,000 after purchasing an additional 1,461 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors.

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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Earnings History for FMC (NYSE:FMC)

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