FMC (NYSE:FMC) PT Raised to $68.00

FMC (NYSE:FMC) had its target price increased by research analysts at Wells Fargo & Company from $65.00 to $68.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.46% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Loop Capital lifted their price target on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, March 19th. KeyCorp lifted their target price on FMC from $76.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada decreased their price target on FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. BMO Capital Markets cut their price objective on shares of FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 7th. Finally, BNP Paribas lowered shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.69.

FMC Price Performance

Shares of FMC opened at $67.02 on Wednesday. FMC has a 12 month low of $49.49 and a 12 month high of $112.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. The stock has a fifty day moving average price of $61.20 and a 200 day moving average price of $57.90. The company has a market cap of $8.37 billion, a P/E ratio of 6.36, a PEG ratio of 1.99 and a beta of 0.88.

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

Insider Activity

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the acquisition, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of large investors have recently made changes to their positions in FMC. Legacy Wealth Asset Management LLC boosted its position in FMC by 4.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock valued at $255,000 after purchasing an additional 175 shares during the last quarter. Cable Hill Partners LLC lifted its holdings in shares of FMC by 5.1% during the 3rd quarter. Cable Hill Partners LLC now owns 3,696 shares of the basic materials company’s stock valued at $248,000 after buying an additional 179 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in shares of FMC by 1.5% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock valued at $801,000 after buying an additional 183 shares in the last quarter. Wahed Invest LLC increased its holdings in FMC by 9.5% in the fourth quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock worth $134,000 after buying an additional 184 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in FMC by 27.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 188 shares in the last quarter. Institutional investors and hedge funds 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.