FMC (NYSE:FMC) Given New $41.00 Price Target at Wells Fargo & Company

FMC (NYSE:FMC) had its price target reduced by equities research analysts at Wells Fargo & Company from $43.00 to $41.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.64% from the company’s previous close.

Several other brokerages have also weighed in on FMC. Vertical Research raised shares of FMC to a “hold” rating in a report on Wednesday, February 5th. Bank of America reissued an “underperform” rating and issued a $48.00 price objective (down from $61.00) on shares of FMC in a report on Wednesday, February 5th. Redburn Atlantic downgraded FMC from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Friday, February 14th. The Goldman Sachs Group began coverage on FMC in a report on Thursday, March 13th. They issued a “buy” rating and a $51.00 price target for the company. Finally, Royal Bank of Canada cut FMC from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $78.00 to $47.00 in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, FMC presently has an average rating of “Hold” and an average price target of $48.69.

FMC Stock Down 0.3 %

NYSE FMC traded down $0.10 on Monday, reaching $37.74. The company had a trading volume of 142,370 shares, compared to its average volume of 2,032,022. The firm has a 50-day moving average of $38.98 and a 200-day moving average of $49.68. FMC has a 1 year low of $32.83 and a 1 year high of $68.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.64 and a quick ratio of 1.24. The firm has a market capitalization of $4.71 billion, a PE ratio of 13.89, a P/E/G ratio of 1.90 and a beta of 0.83.

FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, equities research analysts anticipate that FMC will post 3.48 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael Finian Reilly sold 2,958 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total transaction of $163,429.50. Following the completion of the sale, the executive vice president now directly owns 25,468 shares of the company’s stock, valued at $1,407,107. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ronaldo Pereira bought 5,600 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $35.77 per share, for a total transaction of $200,312.00. Following the completion of the transaction, the insider now directly owns 48,837 shares of the company’s stock, valued at $1,746,899.49. This trade represents a 12.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of FMC by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,291,878 shares of the basic materials company’s stock worth $743,338,000 after purchasing an additional 180,766 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of FMC by 7.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,375,911 shares of the basic materials company’s stock valued at $212,714,000 after buying an additional 321,241 shares during the period. Invesco Ltd. increased its stake in shares of FMC by 37.8% in the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock worth $173,008,000 after acquiring an additional 977,110 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FMC by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 2,995,691 shares of the basic materials company’s stock worth $145,452,000 after acquiring an additional 54,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in FMC by 44.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock valued at $111,131,000 after purchasing an additional 707,727 shares during the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.

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.