SunTrust Banks Increases FMC (NYSE:FMC) Price Target to $109.00
FMC (NYSE:FMC) had its price objective raised by analysts at SunTrust Banks from $102.00 to $109.00 in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. SunTrust Banks’ target price points to a potential upside of 10.75% from the company’s previous close.
Several other research analysts have also commented on FMC. Buckingham Research boosted their price target on FMC from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird upgraded shares of FMC from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $95.00 in a report on Wednesday, October 16th. Wells Fargo & Co initiated coverage on shares of FMC in a research report on Tuesday, October 15th. They set an “outperform” rating and a $100.00 price target for the company. BMO Capital Markets set a $100.00 price target on shares of FMC and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, BNP Paribas began coverage on shares of FMC in a research report on Wednesday, September 18th. They issued a “buy” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. FMC currently has an average rating of “Buy” and a consensus target price of $99.41.
FMC stock opened at $98.42 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.62. The company has a market capitalization of $12.76 billion, a PE ratio of 15.65, a P/E/G ratio of 1.63 and a beta of 1.50. The company has a 50 day moving average price of $93.43 and a 200-day moving average price of $85.80. FMC has a fifty-two week low of $69.36 and a fifty-two week high of $99.34.
In related news, CEO Pierre R. Brondeau sold 24,738 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $96.88, for a total transaction of $2,396,617.44. Also, COO Mark Douglas sold 22,390 shares of FMC stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $89.83, for a total value of $2,011,293.70. Following the transaction, the chief operating officer now owns 60,584 shares of the company’s stock, valued at $5,442,260.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,346 shares of company stock worth $5,245,643. 1.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC purchased a new stake in shares of FMC in the second quarter valued at approximately $33,000. San Francisco Sentry Investment Group CA grew its stake in FMC by 130.8% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 397 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 225 shares during the period. Advantage Investment Management LLC grew its stake in FMC by 248.2% in the 3rd quarter. Advantage Investment Management LLC now owns 397 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 283 shares during the period. Ellevest Inc. increased its holdings in FMC by 91.2% in the 2nd quarter. Ellevest Inc. now owns 457 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 218 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in FMC by 46.9% in the 2nd quarter. Parallel Advisors LLC now owns 501 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 88.84% of the company’s stock.
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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