FMC (NYSE:FMC) Given New $81.00 Price Target at KeyCorp

FMC (NYSE:FMC) had its price target increased by KeyCorp from $79.00 to $81.00 in a report published on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

Several other brokerages have also recently weighed in on FMC. Loop Capital increased their price target on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, March 19th. BMO Capital Markets cut their price target on shares of FMC from $63.00 to $61.00 and set a market perform rating on the stock in a report on Wednesday, February 7th. UBS Group upgraded shares of FMC from a neutral rating to a buy rating and upped their target price for the company from $61.00 to $84.00 in a research note on Wednesday, March 20th. StockNews.com downgraded FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company boosted their price objective on shares of FMC from $65.00 to $68.00 and gave the company an equal weight rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $71.69.

FMC Price Performance

Shares of FMC stock traded up $2.18 during trading on Wednesday, hitting $67.02. The stock had a trading volume of 1,347,201 shares, compared to its average volume of 1,983,840. FMC has a 12 month low of $49.49 and a 12 month high of $112.10. The business’s 50-day moving average is $60.99 and its 200 day moving average is $57.84. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 6.16, a P/E/G ratio of 1.99 and a beta of 0.88.

FMC (NYSE:FMC) last posted its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $918.00 million during the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. The firm’s revenue was down 31.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. As a group, sell-side analysts anticipate that FMC will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a $0.58 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.32 annualized dividend and a yield of 3.46%. FMC’s dividend payout ratio is presently 22.03%.

Insider Activity

In other FMC news, CFO Andrew D. Sandifer bought 2,150 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the transaction, 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 filing with the SEC, which is available at this hyperlink. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of large investors have recently added to or reduced their stakes in FMC. Commonwealth Equity Services LLC increased its position in shares of FMC by 18.1% during the third quarter. Commonwealth Equity Services LLC now owns 20,583 shares of the basic materials company’s stock worth $1,378,000 after purchasing an additional 3,154 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of FMC by 57.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,205 shares of the basic materials company’s stock worth $1,420,000 after buying an additional 7,769 shares in the last quarter. Brown Advisory Inc. raised its position in shares of FMC by 9.9% in the third quarter. Brown Advisory Inc. now owns 3,562 shares of the basic materials company’s stock valued at $239,000 after buying an additional 322 shares during the last quarter. Forsta AP Fonden boosted its position in FMC by 25.2% during the third quarter. Forsta AP Fonden now owns 34,300 shares of the basic materials company’s stock worth $2,297,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in FMC by 9.9% in the 3rd quarter. Mackenzie Financial Corp now owns 27,546 shares of the basic materials company’s stock worth $1,795,000 after purchasing an additional 2,492 shares in the last quarter. 91.86% of the stock is currently 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.