FMC Co. (NYSE:FMC – Get Rating) has been assigned a consensus recommendation of “Hold” from the seventeen analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $130.69.
FMC has been the subject of a number of research reports. Monness Crespi & Hardt cut shares of FMC from a “buy” rating to a “neutral” rating in a report on Thursday, March 31st. Seaport Res Ptn restated a “buy” rating on shares of FMC in a report on Tuesday, February 8th. Mizuho lifted their price objective on shares of FMC from $136.00 to $155.00 in a report on Friday, April 29th. Bank of America cut shares of FMC from a “buy” rating to an “underperform” rating and set a $128.00 price objective for the company. in a report on Tuesday, March 22nd. Finally, Morgan Stanley lifted their price objective on shares of FMC from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, February 11th.
FMC stock opened at $117.02 on Friday. The company’s 50 day simple moving average is $129.51 and its 200-day simple moving average is $116.41. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82. FMC has a 1 year low of $87.27 and a 1 year high of $140.99. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.97 and a current ratio of 1.38.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.12 annualized dividend and a dividend yield of 1.81%. FMC’s dividend payout ratio is presently 35.69%.
FMC announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Pfeiffer sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $123.65, for a total transaction of $269,680.65. The disclosure for this sale can be found here. Insiders have sold a total of 11,096 shares of company stock valued at $1,306,961 in the last 90 days. Insiders own 0.57% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC raised its position in FMC by 0.5% in the 1st quarter. Baystate Wealth Management LLC now owns 16,090 shares of the basic materials company’s stock valued at $2,117,000 after purchasing an additional 75 shares during the last quarter. State of Michigan Retirement System raised its position in FMC by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 31,958 shares of the basic materials company’s stock valued at $4,205,000 after purchasing an additional 91 shares during the last quarter. Commonwealth Equity Services LLC raised its position 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 valued at $1,273,000 after purchasing an additional 96 shares during the last quarter. Baird Financial Group Inc. raised its position in FMC by 1.6% in the 4th quarter. Baird Financial Group Inc. now owns 6,311 shares of the basic materials company’s stock valued at $694,000 after purchasing an additional 99 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in FMC by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the basic materials company’s stock worth $1,116,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.
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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