FMC Corp (FMC) Receives Consensus Recommendation of “Buy” from Brokerages

FMC Corp (NYSE:FMC) has earned an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $101.46.

Several research analysts have issued reports on FMC shares. Goldman Sachs Group raised FMC from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $98.70 to $98.00 in a research report on Monday, May 14th. Zacks Investment Research cut FMC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Nomura lifted their price objective on FMC from $100.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, July 11th. Stephens raised FMC from an “equal weight” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research report on Friday, May 4th. Finally, Credit Suisse Group lifted their price objective on FMC from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Friday, May 4th.

In other news, insider Paul W. Graves sold 3,615 shares of FMC stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $88.46, for a total transaction of $319,782.90. Following the transaction, the insider now directly owns 89,612 shares of the company’s stock, valued at approximately $7,927,077.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. North Star Investment Management Corp. purchased a new position in FMC in the 2nd quarter worth approximately $116,000. Thompson Davis & CO. Inc. lifted its holdings in FMC by 307.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,075 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in FMC by 221.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,525 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 1,050 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in FMC in the 2nd quarter worth approximately $139,000. Finally, Exane Derivatives purchased a new position in FMC in the 2nd quarter worth approximately $141,000. 87.48% of the stock is currently owned by institutional investors.

FMC traded down $1.15, hitting $86.61, on Wednesday, MarketBeat Ratings reports. The stock had a trading volume of 11,117 shares, compared to its average volume of 1,065,957. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 0.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.24 and a current ratio of 1.63. FMC has a 52-week low of $72.73 and a 52-week high of $98.70.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. FMC had a return on equity of 27.12% and a net margin of 23.96%. The business’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. equities analysts forecast that FMC will post 6.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Friday, September 28th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.76%. FMC’s payout ratio is currently 24.35%.

FMC Company Profile

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.

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Analyst Recommendations for FMC (NYSE:FMC)

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