FMC (NYSE:FMC) Shares Up 4.8% – Here’s What Happened

FMC Co. (NYSE:FMC) was up 4.8% on Tuesday . The stock traded as high as $36.74 and last traded at $36.78. Approximately 1,542,086 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 3,040,171 shares. The stock had previously closed at $35.10.

Analyst Ratings Changes

A number of analysts have commented on FMC shares. Citigroup lifted their target price on shares of FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Vertical Research raised FMC to a “hold” rating in a research note on Wednesday, February 5th. Morgan Stanley cut their target price on FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Bank of America reaffirmed an “underperform” rating and issued a $48.00 price target (down from $61.00) on shares of FMC in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of FMC from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.00.

FMC Trading Up 4.5 %

The company has a quick ratio of 1.09, a current ratio of 1.64 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $4.58 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84. The business has a fifty day moving average price of $51.50 and a 200 day moving average price of $58.22.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, analysts expect that FMC Co. will post 3.53 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend was Tuesday, December 31st. FMC’s payout ratio is presently 85.29%.

Insiders Place Their Bets

In other news, EVP Michael Finian Reilly sold 2,958 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total transaction of $163,429.50. Following the transaction, the executive vice president now directly owns 25,468 shares of the company’s stock, valued at approximately $1,407,107. This trade represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On FMC

Hedge funds have recently bought and sold shares of the company. Millburn Ridgefield Corp increased its holdings in FMC by 186.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 324 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in FMC by 90.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Mather Group LLC. boosted its position in FMC by 250.6% during the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after buying an additional 396 shares during the period. Golden State Wealth Management LLC acquired a new position in FMC in the 4th quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of FMC by 217.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 511 shares during the last quarter. 91.86% of the stock is owned by institutional investors.

FMC Company Profile

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.