FMC (NYSE:FMC) Given New $55.00 Price Target at Mizuho

FMC (NYSE:FMC) had its price target cut by Mizuho from $70.00 to $55.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada increased their price objective on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup decreased their price target on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. KeyCorp dropped their price objective on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, UBS Group reduced their target price on shares of FMC from $75.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.92.

FMC Stock Performance

Shares of FMC opened at $51.13 on Tuesday. The company’s 50 day simple moving average is $55.63 and its 200-day simple moving average is $59.28. FMC has a 12-month low of $47.71 and a 12-month high of $68.72. The firm has a market cap of $6.38 billion, a PE ratio of 4.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.44 EPS. FMC’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts predict that FMC will post 3.35 EPS for the current year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.54%. FMC’s payout ratio is 19.97%.

Insider Transactions at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at $1,709,485.83. The trade was a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On FMC

A number of large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI grew its position in shares of FMC by 24.4% in the second quarter. National Bank of Canada FI now owns 33,880 shares of the basic materials company’s stock valued at $1,918,000 after purchasing an additional 6,656 shares during the last quarter. Arizona State Retirement System increased its position in FMC by 1.8% during the second quarter. Arizona State Retirement System now owns 34,942 shares of the basic materials company’s stock worth $2,011,000 after buying an additional 627 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of FMC by 66.2% in the second quarter. Royal London Asset Management Ltd. now owns 81,675 shares of the basic materials company’s stock worth $4,700,000 after acquiring an additional 32,522 shares during the last quarter. Hiddenite Capital Partners LP purchased a new stake in shares of FMC in the second quarter valued at $2,072,000. Finally, American Century Companies Inc. boosted its stake in shares of FMC by 4.4% during the second quarter. American Century Companies Inc. now owns 37,829 shares of the basic materials company’s stock valued at $2,177,000 after acquiring an additional 1,589 shares during the last quarter. 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.