Loop Capital set a $102.00 price objective on FMC (NYSE:FMC) in a research note released on Friday, TipRanks reports. The brokerage currently has a buy rating on the basic materials company’s stock.
Several other research firms have also recently commented on FMC. ValuEngine raised shares of FMC from a hold rating to a buy rating in a research note on Friday, March 1st. Credit Suisse Group decreased their price target on shares of FMC from $112.00 to $96.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Stephens set a $95.00 price target on shares of FMC and gave the company a buy rating in a research note on Thursday, February 28th. Zacks Investment Research cut shares of FMC from a hold rating to a sell rating in a research note on Monday, February 4th. Finally, Royal Bank of Canada increased their price target on shares of FMC to $100.00 and gave the company a positive rating in a research note on Tuesday, February 19th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $98.00.
FMC opened at $79.76 on Friday. FMC has a one year low of $69.36 and a one year high of $92.95. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.68. The company has a market cap of $10.54 billion, a PE ratio of 12.68, a P/E/G ratio of 1.31 and a beta of 1.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 annualized dividend and a yield of 2.01%. FMC’s dividend payout ratio is currently 25.44%.
In related news, Director Robert C. Pallash sold 6,992 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $87.28, for a total value of $610,261.76. Following the transaction, the director now directly owns 37,458 shares in the company, valued at $3,269,334.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Pierre R. Brondeau sold 94,424 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $84.34, for a total transaction of $7,963,720.16. Following the completion of the transaction, the chief executive officer now owns 312,861 shares in the company, valued at $26,386,696.74. The disclosure for this sale can be found here. Insiders sold 131,880 shares of company stock worth $11,144,839 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Paragon Capital Management LLC acquired a new stake in FMC in the first quarter worth $31,000. Raymond James Trust N.A. acquired a new stake in FMC in the first quarter worth $202,000. Retirement Systems of Alabama raised its holdings in FMC by 1.0% in the first quarter. Retirement Systems of Alabama now owns 62,702 shares of the basic materials company’s stock worth $4,817,000 after purchasing an additional 616 shares during the period. Chartwell Investment Partners LLC raised its holdings in FMC by 1,550.9% in the first quarter. Chartwell Investment Partners LLC now owns 222,712 shares of the basic materials company’s stock worth $17,109,000 after purchasing an additional 209,222 shares during the period. Finally, DNB Asset Management AS raised its holdings in FMC by 35.1% in the first quarter. DNB Asset Management AS now owns 30,965 shares of the basic materials company’s stock worth $2,379,000 after purchasing an additional 8,043 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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