FMC (NYSE:FMC) Hits New 1-Year High After Analyst Upgrade

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FMC Corp (NYSE:FMC) reached a new 52-week high during trading on Monday after SunTrust Banks raised their price target on the stock from $102.00 to $109.00. SunTrust Banks currently has a buy rating on the stock. FMC traded as high as $99.35 and last traded at $98.94, with a volume of 133592 shares changing hands. The stock had previously closed at $98.42.

FMC has been the subject of a number of other research reports. Zacks Investment Research lowered FMC from a “hold” rating to a “sell” rating and set a $87.00 price target for the company. in a research report on Wednesday, October 16th. BNP Paribas began coverage on FMC in a research report on Wednesday, September 18th. They issued a “buy” rating and a $110.00 price target on the stock. Buckingham Research raised their price target on FMC from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Co began coverage on FMC in a research report on Tuesday, October 15th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, BMO Capital Markets set a $100.00 price target on FMC and gave the stock a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. FMC presently has a consensus rating of “Buy” and an average target price of $99.41.

In other FMC news, COO Mark Douglas sold 22,390 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $89.83, for a total transaction of $2,011,293.70. Following the completion of the sale, the chief operating officer now directly owns 60,584 shares in the company, valued at $5,442,260.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Pierre R. Brondeau sold 24,738 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $96.88, for a total value of $2,396,617.44. Over the last quarter, insiders have sold 56,346 shares of company stock worth $5,245,643. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMC. Jennison Associates LLC increased its holdings in FMC by 5.9% in the second quarter. Jennison Associates LLC now owns 1,324,688 shares of the basic materials company’s stock valued at $109,883,000 after purchasing an additional 73,611 shares during the period. Keybank National Association OH increased its holdings in FMC by 3.1% in the third quarter. Keybank National Association OH now owns 5,501 shares of the basic materials company’s stock valued at $482,000 after purchasing an additional 163 shares during the period. Dupont Capital Management Corp acquired a new stake in FMC in the second quarter valued at $216,000. Zurich Insurance Group Ltd FI acquired a new stake in FMC during the 2nd quarter worth about $2,183,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in FMC by 19.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,223 shares of the basic materials company’s stock worth $1,843,000 after acquiring an additional 3,552 shares during the period. Hedge funds and other institutional investors own 88.84% of the company’s stock.

The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.62. The stock has a fifty day simple moving average of $93.43 and a two-hundred day simple moving average of $85.80. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.63 and a beta of 1.50.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.14. FMC had a return on equity of 27.94% and a net margin of 11.08%. The firm had revenue of $1,000.00 million during the quarter, compared to the consensus estimate of $978.47 million. During the same period last year, the business posted $0.98 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. Research analysts forecast that FMC Corp will post 5.86 earnings per share for the current year.

FMC Company Profile (NYSE:FMC)

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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