FMC Corp. (NYSE:FMC)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a research note issued to investors on Thursday.
Other equities analysts have also recently issued research reports about the stock. Susquehanna lifted their target price on shares of FMC Corp. from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Zacks Investment Research cut shares of FMC Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG reissued a “hold” rating and set a $44.00 target price on shares of FMC Corp. in a research report on Wednesday, August 3rd. Citigroup Inc. lifted their target price on shares of FMC Corp. from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Finally, Nomura reissued a “hold” rating on shares of FMC Corp. in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.43.
Shares of FMC Corp. (NYSE:FMC) opened at 48.54 on Thursday. The company’s 50-day moving average price is $47.40 and its 200-day moving average price is $45.80. The firm’s market cap is $6.50 billion. FMC Corp. has a 12 month low of $32.24 and a 12 month high of $50.57.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. The business had revenue of $810.30 million for the quarter, compared to analysts’ expectations of $889.70 million. During the same quarter last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, analysts predict that FMC Corp. will post $2.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.66 dividend on an annualized basis and a yield of 1.36%. FMC Corp.’s dividend payout ratio is -94.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in FMC Corp. during the second quarter worth $250,000. Kentucky Retirement Systems purchased a new position in FMC Corp. during the second quarter worth approximately $527,000. Mason Street Advisors LLC purchased a new position in FMC Corp. during the second quarter worth approximately $834,000. IFP Advisors Inc raised its position in FMC Corp. by 11,180.0% in the second quarter. IFP Advisors Inc now owns 2,256 shares of the company’s stock worth $104,000 after buying an additional 2,236 shares during the period. Finally, Cove Street Capital LLC raised its position in FMC Corp. by 18.6% in the second quarter. Cove Street Capital LLC now owns 1,057,995 shares of the company’s stock worth $48,996,000 after buying an additional 166,025 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.
About FMC Corp.
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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