Jefferies Group LLC Reaffirms “Buy” Rating for FMC Corporation (FMC)
FMC Corporation (NYSE:FMC)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group LLC in a research report issued to clients and investors on Monday, May 15th, StockTargetPrices.com reports.
FMC has been the subject of several other research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $71.00 price objective on shares of FMC Corporation in a research note on Tuesday, March 28th. Credit Suisse Group upped their price objective on shares of FMC Corporation from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, January 25th. Instinet upped their price objective on shares of FMC Corporation from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, February 8th. Longbow Research raised shares of FMC Corporation from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, February 8th. Finally, Seaport Global Securities lowered shares of FMC Corporation from an “accumulate” rating to a “neutral” rating and set a $60.00 target price on the stock. in a report on Monday, January 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. FMC Corporation presently has an average rating of “Buy” and a consensus target price of $74.87.
Shares of FMC Corporation (NYSE FMC) traded up 0.44% on Monday, hitting $76.15. 1,772,468 shares of the company were exchanged. The stock has a market capitalization of $10.20 billion, a PE ratio of 285.21 and a beta of 1.61. FMC Corporation has a 52-week low of $41.80 and a 52-week high of $77.38. The firm’s 50-day moving average is $74.59 and its 200-day moving average is $64.80.
FMC Corporation (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 consensus estimate of $0.56 by $0.13. FMC Corporation had a net margin of 1.19% and a return on equity of 17.87%. The business had revenue of $596 million for the quarter, compared to analysts’ expectations of $742.50 million. Equities research analysts predict that FMC Corporation will post $2.45 earnings per share for the current year.
The business 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 $0.165 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.87%. FMC Corporation’s dividend payout ratio is currently 235.72%.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,434 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $74.62, for a total transaction of $1,077,065.08. Following the sale, the vice president now directly owns 131,899 shares in the company, valued at approximately $9,842,303.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William Howard Powell sold 3,000 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $72.73, for a total transaction of $218,190.00. Following the sale, the director now owns 17,554 shares in the company, valued at $1,276,702.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,489 shares of company stock worth $3,118,310. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. raised its stake in FMC Corporation by 163.4% in the first quarter. Contravisory Investment Management Inc. now owns 1,520 shares of the basic materials company’s stock worth $106,000 after buying an additional 943 shares during the period. Acrospire Investment Management LLC raised its stake in FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock worth $133,000 after buying an additional 1,600 shares during the period. Aviance Capital Management LLC acquired a new stake in FMC Corporation during the first quarter worth about $200,000. United Capital Financial Advisers LLC acquired a new stake in FMC Corporation during the first quarter worth about $202,000. Finally, Live Your Vision LLC acquired a new stake in FMC Corporation during the third quarter worth about $143,000. Institutional investors own 91.12% of the company’s stock.
FMC Corporation Company Profile
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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