KeyCorp Boosts FMC Corporation (FMC) Price Target to $105.00
FMC Corporation (NYSE:FMC) had its target price raised by analysts at KeyCorp from $98.00 to $105.00 in a research note issued to investors on Monday. The firm presently has a “buy” rating on the basic materials company’s stock. KeyCorp’s target price points to a potential upside of 10.51% from the company’s current price.
Several other research firms have also recently issued reports on FMC. Jefferies Group LLC reiterated a “buy” rating and issued a $108.00 price target on shares of FMC Corporation in a report on Thursday. Piper Jaffray Companies set a $85.00 price target on FMC Corporation and gave the company a “hold” rating in a report on Friday, October 6th. Royal Bank Of Canada reiterated a “buy” rating and issued a $93.00 price target on shares of FMC Corporation in a report on Wednesday, October 11th. Robert W. Baird reiterated a “hold” rating and issued a $86.00 price target on shares of FMC Corporation in a report on Tuesday, September 12th. Finally, Zacks Investment Research upgraded FMC Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 price target on the stock in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $88.24.
Shares of FMC Corporation (NYSE:FMC) traded up 1.38% during midday trading on Monday, reaching $95.01. 1,104,512 shares of the company’s stock traded hands. FMC Corporation has a 52-week low of $45.91 and a 52-week high of $95.07. The firm has a market capitalization of $12.74 billion, a P/E ratio of 281.93 and a beta of 1.61. The stock’s 50 day moving average price is $89.03 and its 200 day moving average price is $79.26.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the 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 quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. On average, equities research analysts anticipate that FMC Corporation will post $2.43 EPS for the current fiscal year.
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In related news, VP Andrea E. Utecht sold 14,174 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the completion of the transaction, the vice president now directly owns 131,639 shares in the company, valued at $11,057,676. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of FMC. Aviance Capital Management LLC bought a new position in shares of FMC Corporation during the first quarter worth about $200,000. United Capital Financial Advisers LLC bought a new position in FMC Corporation in the first quarter valued at approximately $202,000. Cambridge Trust Co. bought a new position in FMC Corporation in the first quarter valued at approximately $480,000. Tower Research Capital LLC TRC grew its stake in FMC Corporation by 70.8% in the first quarter. Tower Research Capital LLC TRC now owns 8,733 shares of the basic materials company’s stock valued at $608,000 after purchasing an additional 3,620 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in FMC Corporation by 44.5% in the first quarter. HighTower Advisors LLC now owns 12,268 shares of the basic materials company’s stock valued at $854,000 after purchasing an additional 3,778 shares in the last quarter. Institutional investors and hedge funds own 90.46% 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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