Wells Fargo & Company Raises FMC (NYSE:FMC) Price Target to $68.00

FMC (NYSE:FMC) had its target price lifted by analysts at Wells Fargo & Company from $65.00 to $68.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 3.23% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. BNP Paribas cut shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research report on Wednesday, February 7th. KeyCorp increased their price objective on shares of FMC from $76.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Loop Capital boosted their target price on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reduced their target price on FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, Mizuho raised their target price on shares of FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.56.

FMC Price Performance

Shares of FMC traded down $0.88 during mid-day trading on Wednesday, hitting $65.87. 935,365 shares of the stock were exchanged, compared to its average volume of 1,969,905. The firm has a 50-day moving average of $60.71 and a two-hundred day moving average of $57.79. FMC has a 52-week low of $49.49 and a 52-week high of $112.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The company has a market cap of $8.22 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88.

FMC (NYSE:FMC) last released its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. FMC had a net margin of 29.45% and a return on equity of 12.98%. The business had revenue of $918.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.77 earnings per share. FMC’s quarterly revenue was down 31.7% compared to the same quarter last year. On average, equities analysts predict that FMC will post 3.88 earnings per share for the current year.

Insider Buying and Selling at FMC

In other news, CFO Andrew D. Sandifer acquired 2,150 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $59.22 per share, with a total value of $127,323.00. Following the purchase, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. US Bancorp DE grew its stake in FMC by 8.7% in the 1st quarter. US Bancorp DE now owns 13,410 shares of the basic materials company’s stock valued at $854,000 after acquiring an additional 1,072 shares during the period. Addison Capital Co increased its stake in shares of FMC by 4.0% during the first quarter. Addison Capital Co now owns 25,804 shares of the basic materials company’s stock worth $1,644,000 after purchasing an additional 990 shares in the last quarter. Isthmus Partners LLC raised its position in shares of FMC by 7.4% during the 1st quarter. Isthmus Partners LLC now owns 124,542 shares of the basic materials company’s stock worth $7,933,000 after purchasing an additional 8,531 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in FMC by 11.6% in the 1st quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company’s stock valued at $57,538,000 after buying an additional 93,892 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in FMC in the 1st quarter worth about $71,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.