FMC Co. Declares Quarterly Dividend of $0.58 (NYSE:FMC)

FMC Co. (NYSE:FMC) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Investors of record on Friday, June 28th will be paid a dividend of 0.58 per share by the basic materials company on Thursday, July 18th. This represents a $2.32 dividend on an annualized basis and a yield of 3.93%.

FMC has raised its dividend payment by an average of 8.8% per year over the last three years. FMC has a dividend payout ratio of 46.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect FMC to earn $4.85 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 47.8%.

FMC Price Performance

Shares of FMC traded down $1.20 during midday trading on Tuesday, hitting $59.01. 1,954,886 shares of the company traded hands, compared to its average volume of 1,942,430. The stock has a 50-day moving average of $59.61 and a 200-day moving average of $57.97. FMC has a one year low of $49.49 and a one year high of $124.61. The firm has a market cap of $7.37 billion, a P/E ratio of 5.72, a PEG ratio of 1.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01.

FMC (NYSE:FMC) last announced its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.25 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. During the same quarter in the prior year, the company earned $2.37 earnings per share. As a group, sell-side analysts predict that FMC will post 3.88 EPS for the current fiscal year.

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the purchase, the chief financial officer now owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada cut their target price on FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. BMO Capital Markets lowered their price objective on FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Bank of America downgraded FMC from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $60.00 to $57.00 in a research report on Tuesday, January 16th. Roth Mkm initiated coverage on FMC in a research report on Thursday, January 4th. They issued a “buy” rating and a $74.00 price objective for the company. Finally, KeyCorp boosted their price objective on FMC from $76.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, FMC currently has an average rating of “Hold” and an average price target of $71.75.

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.