FMC Corp (FMC) Raised to “B-” at TheStreet

TheStreet upgraded shares of FMC Corp (NYSE:FMC) from a c+ rating to a b- rating in a report released on Thursday, May 4th.

Several other research firms also recently weighed in on FMC. Jefferies Group LLC set a $70.00 price target on FMC Corp and gave the stock a buy rating in a research note on Saturday, March 25th. Robert W. Baird reaffirmed a neutral rating and set a $76.00 price objective (up from $67.00) on shares of FMC Corp in a report on Sunday, April 2nd. Susquehanna Bancshares Inc raised FMC Corp from a neutral rating to a positive rating and set a $86.00 price objective on the stock in a report on Monday, April 3rd. Piper Jaffray Companies increased their price target on FMC Corp from $51.00 to $55.00 and gave the company a neutral rating in a report on Wednesday, February 8th. Finally, BMO Capital Markets reiterated a hold rating and issued a $75.00 target price on shares of FMC Corp in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. FMC Corp currently has an average rating of Buy and a consensus price target of $74.16.

FMC Corp (NYSE:FMC) traded up 3.03% on Thursday, reaching $74.53. 845,424 shares of the company were exchanged. FMC Corp has a 12-month low of $41.80 and a 12-month high of $76.02. The stock has a market capitalization of $9.99 billion, a P/E ratio of 279.14 and a beta of 1.66. The company’s 50-day moving average price is $72.82 and its 200-day moving average price is $61.48.

FMC Corp (NYSE:FMC) last announced its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.13. The company had revenue of $596 million for the quarter, compared to the consensus estimate of $742.50 million. FMC Corp had a net margin of 6.37% and a return on equity of 18.60%. Equities research analysts anticipate that FMC Corp will post $2.44 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, June 28th. FMC Corp’s dividend payout ratio (DPR) is 42.31%.

In related news, VP Andrea E. Utecht sold 14,434 shares of FMC Corp stock in a transaction on Monday, May 15th. The stock was sold at an average price of $74.62, for a total value of $1,077,065.08. Following the transaction, the vice president now owns 131,899 shares in the company, valued at $9,842,303.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Norris sold 11,358 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $75.75, for a total value of $860,368.50. Following the completion of the transaction, the insider now directly owns 28,750 shares in the company, valued at $2,177,812.50. The disclosure for this sale can be found here. Insiders have sold 28,792 shares of company stock worth $2,155,624 in the last 90 days. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of FMC Corp by 2,944.3% in the first quarter. BlackRock Inc. now owns 8,723,379 shares of the basic materials company’s stock worth $607,062,000 after buying an additional 8,436,830 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new position in FMC Corp during the first quarter worth approximately $167,824,000. Russell Investments Group Ltd. purchased a new position in FMC Corp during the fourth quarter worth approximately $93,531,000. Norges Bank purchased a new position in FMC Corp during the fourth quarter worth approximately $59,302,000. Finally, Glenview Capital Management LLC increased its position in FMC Corp by 10.8% in the first quarter. Glenview Capital Management LLC now owns 10,577,624 shares of the basic materials company’s stock worth $736,097,000 after buying an additional 1,029,806 shares during the period. 94.35% of the stock is currently owned by institutional investors and hedge funds.

About FMC Corp

FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.

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