Zacks Investment Research lowered shares of FMC (NYSE:FMC) from a strong-buy rating to a hold rating in a research note released on Thursday.
According to Zacks, “FMC Corp. has outperformed the industry it belongs to over a year. The company is seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. The acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. The company should also gain from its efforts to expand product portfolio. However, FMC Corp. is faced with challenging agriculture market fundamentals, especially in Latin America. It is also exposed to headwind from weak prices in its agriculture unit. The company’s stretched valuation is another concern.”
FMC has been the topic of a number of other reports. Jefferies Group reiterated a buy rating and issued a $108.00 target price on shares of FMC in a research note on Thursday, October 12th. Credit Suisse Group reiterated an outperform rating and issued a $102.00 target price (up from $93.00) on shares of FMC in a research note on Wednesday, November 8th. KeyCorp reiterated a buy rating and issued a $112.00 target price on shares of FMC in a research note on Monday, December 4th. Piper Jaffray Companies reiterated a hold rating and issued a $92.00 target price on shares of FMC in a research note on Friday, November 10th. Finally, Nomura raised their target price on shares of FMC from $97.00 to $106.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. FMC has an average rating of Buy and a consensus target price of $94.80.
FMC (NYSE:FMC) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. FMC had a net margin of 0.78% and a return on equity of 16.77%. The business had revenue of $646.20 million for the quarter, compared to the consensus estimate of $686.21 million. During the same quarter last year, the firm earned $0.67 EPS. FMC’s revenue for the quarter was up 2.8% on a year-over-year basis. equities research analysts anticipate that FMC will post 2.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.66 annualized dividend and a yield of 0.67%. FMC’s dividend payout ratio is 45.21%.
In other FMC news, insider Nicholas Pfeiffer sold 375 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total value of $33,873.75. Following the sale, the insider now directly owns 6,856 shares in the company, valued at approximately $619,302.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Partners LLC acquired a new stake in FMC in the 3rd quarter worth $216,000. Achmea Investment Management B.V. bought a new position in shares of FMC during the 3rd quarter worth about $246,000. Nordea Investment Management AB lifted its holdings in shares of FMC by 99.7% during the 3rd quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock worth $718,000 after acquiring an additional 4,015 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of FMC during the 3rd quarter worth about $831,000. Finally, Hanseatic Management Services Inc. lifted its holdings in shares of FMC by 13.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after acquiring an additional 1,688 shares during the period. Institutional investors own 89.29% of the company’s stock.
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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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