FMC (NYSE:FMC) Upgraded by Barclays to “Hold” Rating

Barclays upgraded shares of FMC (NYSE:FMC) from a strong sell rating to a hold rating in a research note released on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on FMC. UBS Group boosted their target price on shares of FMC from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Mizuho set a $16.00 target price on FMC in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price target on FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 price target on shares of FMC in a research report on Friday, July 31st. Finally, Seaport Research Partners set a $21.00 price objective on FMC in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, FMC has an average rating of “Hold” and an average target price of $14.25.

FMC Price Performance

FMC stock opened at $10.51 on Thursday. The firm has a 50-day moving average of $11.38 and a two-hundred day moving average of $13.76. The firm has a market capitalization of $1.32 billion, a PE ratio of -0.48 and a beta of 0.38. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38. FMC has a one year low of $9.94 and a one year high of $40.84.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The firm’s revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, analysts forecast that FMC will post 1.26 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.0%. FMC’s payout ratio is -1.45%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Root Financial Partners LLC raised its holdings in shares of FMC by 3,642.9% during the 1st quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 1,785 shares in the last quarter. Essential Partners LLC bought a new stake in FMC in the first quarter worth $43,000. Parallel Advisors LLC boosted its holdings in FMC by 297.2% in the first quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 4,687 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in FMC by 3,714.8% during the first quarter. EverSource Wealth Advisors LLC now owns 9,041 shares of the basic materials company’s stock worth $156,000 after buying an additional 8,804 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in FMC during the third quarter worth $204,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

About FMC

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.