Several other brokerages have also issued reports on FMC. Citigroup Inc. lifted their price target on FMC Corp. from $48.00 to $51.00 and gave the company a neutral rating in a report on Friday, July 15th. Zacks Investment Research lowered FMC Corp. from a buy rating to a hold rating in a report on Tuesday, August 9th. Credit Suisse Group AG reiterated a hold rating and set a $44.00 price target on shares of FMC Corp. in a report on Wednesday, August 3rd. Susquehanna lifted their price target on FMC Corp. from $46.00 to $48.00 and gave the company a neutral rating in a report on Friday, August 26th. Finally, Nomura reiterated a hold rating on shares of FMC Corp. in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $44.07.
Shares of FMC Corp. (NYSE:FMC) opened at 48.11 on Thursday. The stock’s 50 day moving average is $47.43 and its 200-day moving average is $46.01. FMC Corp. has a 52-week low of $32.24 and a 52-week high of $50.57. The firm’s market cap is $6.44 billion.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business earned $810.30 million during the quarter, compared to analyst estimates of $889.70 million. FMC Corp. had a positive return on equity of 16.35% and a negative net margin of 2.79%. The firm’s revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. Equities analysts anticipate that FMC Corp. will post $2.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.37%. FMC Corp.’s dividend payout ratio (DPR) is presently -94.29%.
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of FMC Corp. by 2.1% in the first quarter. State Street Corp now owns 5,665,404 shares of the company’s stock worth $228,708,000 after buying an additional 114,542 shares during the period. Canada Pension Plan Investment Board raised its position in shares of FMC Corp. by 78.1% in the first quarter. Canada Pension Plan Investment Board now owns 197,510 shares of the company’s stock worth $7,973,000 after buying an additional 86,600 shares during the period. M&T Bank Corp acquired a new position in shares of FMC Corp. during the first quarter worth approximately $420,000. NN Investment Partners Holdings N.V. acquired a new position in shares of FMC Corp. during the first quarter worth approximately $963,000. Finally, Sentry Investment Management LLC raised its position in shares of FMC Corp. by 22.3% in the first quarter. Sentry Investment Management LLC now owns 9,629 shares of the company’s stock worth $389,000 after buying an additional 1,757 shares during the period. Institutional investors own 94.55% of the company’s stock.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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