FMC (FMC) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of FMC (NYSE:FMC) in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $92.00 target price on the basic materials company’s stock.

Several other research firms also recently commented on FMC. Nomura raised their price objective on shares of FMC from $100.00 to $106.00 and gave the stock a buy rating in a report on Wednesday, July 11th. Zacks Investment Research downgraded shares of FMC from a buy rating to a hold rating in a report on Thursday, July 19th. Finally, ValuEngine downgraded shares of FMC from a hold rating to a sell rating in a report on Wednesday, October 17th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. FMC has a consensus rating of Buy and an average target price of $102.15.

Shares of FMC stock traded down $1.48 on Monday, reaching $82.46. 21,944 shares of the company traded hands, compared to its average volume of 1,358,444. FMC has a 52 week low of $72.73 and a 52 week high of $98.70. The company has a market capitalization of $11.26 billion, a P/E ratio of 30.58, a P/E/G ratio of 0.75 and a beta of 1.60. The company has a quick ratio of 1.24, a current ratio of 1.54 and a debt-to-equity ratio of 0.84.

FMC (NYSE:FMC) last released its earnings results on Monday, November 5th. The basic materials company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.06. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 22.28% and a return on equity of 26.26%. The company’s revenue was up 60.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts expect that FMC will post 6.05 EPS for the current fiscal year.

In other FMC news, Director Dirk A. Kempthorne acquired 1,173 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was bought at an average cost of $86.12 per share, with a total value of $101,018.76. Following the acquisition, the director now owns 35,783 shares in the company, valued at $3,081,631.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark Douglas purchased 4,250 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was purchased at an average cost of $86.13 per share, with a total value of $366,052.50. Following the completion of the acquisition, the chief operating officer now owns 59,943 shares in the company, valued at $5,162,890.59. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in FMC by 33.0% during the 1st quarter. Principal Financial Group Inc. now owns 570,384 shares of the basic materials company’s stock valued at $43,675,000 after purchasing an additional 141,393 shares during the period. Suntrust Banks Inc. boosted its position in FMC by 14.7% during the 1st quarter. Suntrust Banks Inc. now owns 5,162 shares of the basic materials company’s stock valued at $394,000 after purchasing an additional 660 shares during the period. DnB Asset Management AS acquired a new position in FMC during the 2nd quarter valued at approximately $1,407,000. IFM Investors Pty Ltd boosted its position in FMC by 37.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 6,842 shares of the basic materials company’s stock valued at $610,000 after purchasing an additional 1,870 shares during the period. Finally, Addison Capital Co acquired a new position in FMC during the 2nd quarter valued at approximately $2,238,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

About FMC

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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