FMC Co. (NYSE:FMC) Declares $0.58 Quarterly Dividend

FMC Co. (NYSE:FMC) declared a quarterly dividend on Friday, December 13th,RTT News reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.58 per share by the basic materials company on Thursday, January 16th. This represents a $2.32 dividend on an annualized basis and a yield of 4.34%.

FMC has raised its dividend payment by an average of 8.8% per year over the last three years. FMC has a payout ratio of 50.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FMC to earn $4.68 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 49.6%.

FMC Stock Performance

Shares of FMC opened at $53.50 on Friday. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. The company’s fifty day moving average is $59.83 and its 200-day moving average is $60.19. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. FMC has a 12 month low of $50.03 and a 12 month high of $68.72.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that FMC will post 3.35 EPS for the current fiscal year.

Insider Activity at FMC

In related news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the sale, the vice president now owns 28,649 shares in the company, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho upped their price target on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Citigroup assumed coverage on FMC in a report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price target on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.00.

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.