FMC (NYSE:FMC) Price Target Increased to $81.00 by Analysts at KeyCorp

FMC (NYSE:FMC) had its price objective increased by research analysts at KeyCorp from $79.00 to $81.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective points to a potential upside of 24.67% from the stock’s current price.

FMC has been the subject of a number of other research reports. BNP Paribas cut shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, February 7th. Mizuho upped their price target on shares of FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. BMO Capital Markets lowered their price target on shares of FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a report on Wednesday, February 7th. Finally, Wolfe Research started coverage on shares of FMC in a report on Friday, March 1st. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.69.

FMC Price Performance

FMC stock traded down $1.78 during midday trading on Wednesday, reaching $64.97. The company had a trading volume of 1,638,336 shares, compared to its average volume of 1,977,676. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. FMC has a 1 year low of $49.49 and a 1 year high of $112.10. The company has a market capitalization of $8.11 billion, a P/E ratio of 6.17, a P/E/G ratio of 1.99 and a beta of 0.88. The firm has a 50-day moving average price of $60.71 and a 200-day moving average price of $57.79.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. FMC had a net margin of 29.45% and a return on equity of 12.98%. The company had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The firm’s revenue was down 31.7% on a year-over-year basis. On average, research analysts anticipate that FMC will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Andrew D. Sandifer bought 2,150 shares of FMC stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the acquisition, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On FMC

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in FMC in the first quarter valued at approximately $27,000. CVA Family Office LLC acquired a new position in FMC in the 4th quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in FMC in the 4th quarter valued at about $31,000. Quintet Private Bank Europe S.A. acquired a new position in FMC in the 3rd quarter valued at about $33,000. Finally, Spire Wealth Management boosted its holdings in FMC by 143.1% in the 3rd quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 299 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.