FMC (NYSE:FMC) Price Target Raised to $81.00

FMC (NYSE:FMC) had its price objective increased by equities research analysts at KeyCorp from $79.00 to $81.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would suggest a potential upside of 20.86% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. UBS Group raised FMC from a “neutral” rating to a “buy” rating and raised their price target for the stock from $61.00 to $84.00 in a research note on Wednesday, March 20th. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $60.00 to $57.00 in a research report on Tuesday, January 16th. Loop Capital boosted their target price on shares of FMC from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Wells Fargo & Company raised their price target on shares of FMC from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on shares of FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.69.

FMC Stock Performance

Shares of FMC opened at $67.02 on Wednesday. The company has a market capitalization of $8.37 billion, a PE ratio of 6.36, a PEG ratio of 1.99 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The company’s 50 day moving average price is $61.20 and its 200 day moving average price is $57.90. FMC has a 52 week low of $49.49 and a 52 week high of $112.10.

FMC (NYSE:FMC) last issued its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. FMC had a net margin of 29.45% and a return on equity of 12.98%. The company had revenue of $918.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.77 EPS. The company’s revenue for the quarter was down 31.7% on a year-over-year basis. Research analysts expect that FMC will post 3.88 EPS for the current fiscal year.

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the purchase, the chief financial officer now directly owns 50,088 shares in the company, valued at $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of FMC

A number of hedge funds have recently modified their holdings of FMC. North Point Portfolio Managers Corp OH raised its stake in shares of FMC by 67.3% in the fourth quarter. North Point Portfolio Managers Corp OH now owns 118,531 shares of the basic materials company’s stock valued at $7,473,000 after purchasing an additional 47,697 shares in the last quarter. Raymond James & Associates raised its position in FMC by 0.5% in the fourth quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock worth $7,262,000 after purchasing an additional 610 shares in the last quarter. Invesco Ltd. lifted its stake in FMC by 37.9% during the third quarter. Invesco Ltd. now owns 1,764,469 shares of the basic materials company’s stock worth $118,166,000 after purchasing an additional 484,500 shares during the period. Nordea Investment Management AB boosted its holdings in FMC by 15.4% during the third quarter. Nordea Investment Management AB now owns 14,195 shares of the basic materials company’s stock valued at $950,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of FMC in the 3rd quarter worth approximately $664,000. Institutional investors own 91.86% of the company’s stock.

About FMC

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 includes 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.