FMC Corporation (FMC) Receives Hold Rating from Robert W. Baird
Robert W. Baird reissued their hold rating on shares of FMC Corporation (NYSE:FMC) in a research report released on Tuesday. Robert W. Baird currently has a $86.00 price target on the basic materials company’s stock.
FMC has been the subject of several other reports. Jefferies Group LLC restated a buy rating and set a $84.00 price target on shares of FMC Corporation in a research report on Thursday, July 6th. Wells Fargo & Company upgraded shares of FMC Corporation from a market perform rating to an outperform rating and set a $85.00 price target for the company in a research report on Monday, May 15th. Nomura upgraded shares of FMC Corporation from a neutral rating to a buy rating and upped their price target for the company from $78.00 to $97.00 in a research report on Friday, August 4th. BidaskClub upgraded shares of FMC Corporation from a hold rating to a buy rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research upgraded shares of FMC Corporation from a sell rating to a hold rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $85.04.
Shares of FMC Corporation (NYSE FMC) opened at 89.70 on Tuesday. The company’s 50 day moving average price is $83.18 and its 200 day moving average price is $74.00. The firm has a market cap of $12.03 billion, a P/E ratio of 266.17 and a beta of 1.60. FMC Corporation has a 12-month low of $44.64 and a 12-month high of $90.68.
FMC Corporation (NYSE:FMC) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities research analysts forecast that FMC Corporation will post $2.44 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. FMC Corporation’s dividend payout ratio is currently 188.58%.
In other news, VP Andrea E. Utecht sold 14,174 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the completion of the sale, the vice president now directly owns 131,639 shares in the company, valued at $11,057,676. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Aviance Capital Management LLC purchased a new stake in FMC Corporation in the first quarter worth about $200,000. United Capital Financial Advisers LLC purchased a new stake in FMC Corporation in the first quarter worth about $202,000. Cleararc Capital Inc. purchased a new stake in FMC Corporation in the first quarter worth about $226,000. Virginia Retirement Systems ET AL purchased a new stake in FMC Corporation in the first quarter worth about $230,000. Finally, South Texas Money Management Ltd. purchased a new stake in FMC Corporation in the first quarter worth about $232,000. Institutional investors and hedge funds own 90.45% 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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