Several other analysts also recently weighed in on the stock. Vetr downgraded shares of FMC Corp from a sell rating to a strong sell rating and set a $50.73 price target for the company. in a research note on Thursday, January 5th. Piper Jaffray Companies raised shares of FMC Corp from an underweight rating to a neutral rating and lifted their price target for the company from $45.00 to $51.00 in a research note on Monday, November 28th. Instinet lifted their price target on shares of FMC Corp from $57.00 to $61.00 and gave the company a neutral rating in a research note on Wednesday, February 8th. Royal Bank of Canada started coverage on shares of FMC Corp in a research note on Thursday, February 23rd. They set an outperform rating and a $71.00 price target for the company. Finally, Credit Suisse Group AG lifted their price target on shares of FMC Corp from $57.00 to $66.00 and gave the company an outperform rating in a research note on Wednesday, January 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $60.12.
Shares of FMC Corp (NYSE:FMC) opened at 61.45 on Wednesday. The stock has a market capitalization of $8.22 billion, a P/E ratio of 39.47 and a beta of 1.66. The firm’s 50-day moving average price is $59.15 and its 200 day moving average price is $54.84. FMC Corp has a 52 week low of $36.72 and a 52 week high of $62.84.
FMC Corp (NYSE:FMC) last posted its quarterly earnings results on Monday, February 6th. The company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.01. FMC Corp had a net margin of 6.37% and a return on equity of 18.60%. The company had revenue of $865.60 million for the quarter, compared to the consensus estimate of $915.55 million. During the same period in the prior year, the firm posted $0.77 EPS. The business’s revenue was down 3.7% on a year-over-year basis. Analysts expect that FMC Corp will post $3.39 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 20th. Investors of record on Friday, March 31st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, March 29th. FMC Corp’s dividend payout ratio (DPR) is 42.31%.
A number of institutional investors have recently modified their holdings of FMC. Russell Investments Group Ltd. acquired a new position in shares of FMC Corp during the fourth quarter worth approximately $93,531,000. Norges Bank acquired a new position in shares of FMC Corp during the fourth quarter worth approximately $59,302,000. Frontier Capital Management Co. LLC increased its position in shares of FMC Corp by 76.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,265,196 shares of the company’s stock worth $71,559,000 after buying an additional 548,629 shares during the period. Credit Suisse AG increased its position in shares of FMC Corp by 18.0% in the third quarter. Credit Suisse AG now owns 2,549,330 shares of the company’s stock worth $123,234,000 after buying an additional 389,523 shares during the period. Finally, OZ Management LP increased its position in shares of FMC Corp by 13.0% in the third quarter. OZ Management LP now owns 3,021,690 shares of the company’s stock worth $146,069,000 after buying an additional 348,388 shares during the period. 94.35% of the stock is owned by institutional investors.
About FMC Corp
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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