FMC (NYSE:FMC) Given New $69.00 Price Target at KeyCorp

FMC (NYSE:FMC) had its price target lowered by KeyCorp from $79.00 to $69.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

Other research analysts have also issued research reports about the stock. Mizuho raised their price target on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Citigroup dropped their target price on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. UBS Group lowered their price objective on FMC from $75.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada upped their target price on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, FMC presently has an average rating of “Hold” and an average target price of $64.17.

FMC Price Performance

Shares of FMC opened at $48.53 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The stock has a market cap of $6.06 billion, a PE ratio of 4.18, a PEG ratio of 1.48 and a beta of 0.80. FMC has a 12-month low of $47.71 and a 12-month high of $68.72. The business has a 50-day simple moving average of $56.04 and a two-hundred day simple moving average of $59.32.

FMC (NYSE:FMC) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue was up 8.5% on a year-over-year basis. Analysts anticipate that FMC will post 3.35 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st will be paid a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 annualized dividend and a dividend yield of 4.78%. FMC’s payout ratio is 19.97%.

Insider Activity at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the transaction, the vice president now directly owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FMC. GAMMA Investing LLC grew its position in FMC by 115.0% during the fourth quarter. GAMMA Investing LLC now owns 1,976 shares of the basic materials company’s stock valued at $96,000 after buying an additional 1,057 shares during the period. Inspire Trust Co. N.A. raised its position in FMC by 18.7% in the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock worth $3,970,000 after acquiring an additional 9,500 shares during the period. Synovus Financial Corp boosted its stake in FMC by 82.9% in the third quarter. Synovus Financial Corp now owns 49,892 shares of the basic materials company’s stock valued at $3,290,000 after acquiring an additional 22,612 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of FMC during the 3rd quarter valued at approximately $58,000. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in shares of FMC during the 3rd quarter worth approximately $205,000. Institutional investors 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.