KeyCorp Forecasts Strong Price Appreciation for FMC (NYSE:FMC) Stock

FMC (NYSE:FMC) had its price objective lifted by research analysts at KeyCorp from $53.00 to $61.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective indicates a potential upside of 47.45% from the stock’s current price.

FMC has been the subject of several other reports. Barclays increased their price objective on shares of FMC from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Royal Bank Of Canada increased their price target on FMC from $40.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, July 10th. UBS Group boosted their price objective on FMC from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Mizuho upgraded shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.15.

FMC Stock Performance

Shares of NYSE FMC opened at $41.37 on Monday. FMC has a 12-month low of $32.83 and a 12-month high of $68.55. The company has a market cap of $5.17 billion, a PE ratio of 15.79, a P/E/G ratio of 1.27 and a beta of 0.77. The stock has a 50 day simple moving average of $41.15 and a 200-day simple moving average of $42.22. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. The company had revenue of $791.40 million during the quarter, compared to analyst estimates of $783.70 million. FMC had a return on equity of 9.12% and a net margin of 7.97%. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities research analysts forecast that FMC will post 3.48 EPS for the current year.

Institutional Trading of FMC

Several large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in FMC by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 59,771 shares of the basic materials company’s stock valued at $2,905,000 after buying an additional 286 shares during the period. Algert Global LLC grew its stake in FMC by 0.5% during the 4th quarter. Algert Global LLC now owns 59,052 shares of the basic materials company’s stock valued at $2,871,000 after acquiring an additional 300 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in FMC by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 54,754 shares of the basic materials company’s stock valued at $2,662,000 after acquiring an additional 350 shares in the last quarter. Oak Thistle LLC increased its holdings in shares of FMC by 5.5% in the 1st quarter. Oak Thistle LLC now owns 7,653 shares of the basic materials company’s stock valued at $323,000 after purchasing an additional 398 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of FMC by 66.6% in the first quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 402 shares in the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.

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.