FMC (NYSE:FMC) Price Target Raised to $59.00 at JPMorgan Chase & Co.

FMC (NYSE:FMC) had its price target upped by JPMorgan Chase & Co. from $50.00 to $59.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other equities analysts also recently commented on FMC. Mizuho upped their price objective on shares of FMC from $55.00 to $57.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Wells Fargo & Company decreased their price target on shares of FMC from $68.00 to $62.00 and set an equal weight rating on the stock in a research note on Tuesday, July 16th. Royal Bank of Canada increased their price target on shares of FMC from $65.00 to $81.00 and gave the company an outperform rating in a report on Friday, May 10th. StockNews.com upgraded FMC from a sell rating to a hold rating in a report on Wednesday, May 8th. Finally, Redburn Atlantic upgraded FMC from a hold rating to a strong-buy rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $68.63.

FMC Trading Up 1.6 %

Shares of NYSE:FMC opened at $62.42 on Monday. FMC has a 52-week low of $49.49 and a 52-week high of $90.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market capitalization of $7.79 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. The company has a 50-day simple moving average of $57.99 and a 200 day simple moving average of $59.06.

FMC (NYSE:FMC) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. Sell-side analysts forecast that FMC will post 3.17 earnings per share for the current year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Institutional Investors Weigh In On FMC

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of FMC by 15.3% during the 4th quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock worth $791,137,000 after acquiring an additional 1,666,096 shares during the period. Tweedy Browne Co LLC raised its position in FMC by 105.1% during the fourth quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company’s stock valued at $186,745,000 after purchasing an additional 1,518,053 shares in the last quarter. Norges Bank bought a new stake in FMC during the fourth quarter worth $83,227,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of FMC by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after purchasing an additional 1,316,133 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock valued at $63,160,000 after purchasing an additional 836,179 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

About FMC

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.