Barclays Initiates Coverage on FMC (NYSE:FMC)

Investment analysts at Barclays initiated coverage on shares of FMC (NYSE:FMC) in a report released on Wednesday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $62.00 price target on the basic materials company’s stock. Barclays‘s price target points to a potential upside of 8.62% from the company’s previous close.

Several other analysts also recently issued reports on FMC. Loop Capital raised their price target on FMC from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. KeyCorp increased their price objective on shares of FMC from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Wells Fargo & Company boosted their target price on shares of FMC from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of FMC from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Finally, StockNews.com upgraded FMC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, FMC has an average rating of “Hold” and an average target price of $70.06.

FMC Price Performance

Shares of FMC stock opened at $57.08 on Wednesday. The stock has a market capitalization of $7.12 billion, a P/E ratio of 6.37, a PEG ratio of 1.17 and a beta of 0.88. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The business’s fifty day moving average price is $59.91 and its 200 day moving average price is $59.25. FMC has a twelve month low of $49.49 and a twelve month high of $106.87.

FMC (NYSE:FMC) last posted its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 27.65% and a return on equity of 7.68%. The business’s quarterly revenue was down 31.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 EPS. As a group, research analysts anticipate that FMC will post 3.6 earnings per share for the current year.

Institutional Trading of FMC

Large investors have recently modified their holdings of the stock. American Trust bought a new position in FMC in the first quarter valued at approximately $213,000. Verity Asset Management Inc. acquired a new position in shares of FMC during the 1st quarter worth $213,000. Teachers Retirement System of The State of Kentucky boosted its stake in FMC by 36.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 35,522 shares of the basic materials company’s stock valued at $2,264,000 after buying an additional 9,574 shares in the last quarter. Cetera Investment Advisers boosted its stake in FMC by 483.8% in the first quarter. Cetera Investment Advisers now owns 34,781 shares of the basic materials company’s stock valued at $2,216,000 after buying an additional 28,823 shares in the last quarter. Finally, Swedbank AB bought a new position in FMC in the first quarter valued at about $21,995,000. 91.86% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.