KeyCorp Cuts FMC (NYSE:FMC) Price Target to $51.00

FMC (NYSE:FMC) had its target price lowered by KeyCorp from $55.00 to $51.00 in a report published on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays lowered their target price on shares of FMC from $65.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered FMC from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $78.00 to $47.00 in a research report on Wednesday, February 5th. Bank of America reaffirmed an “underperform” rating and set a $48.00 target price (down previously from $61.00) on shares of FMC in a research note on Wednesday, February 5th. Citigroup raised their price target on FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley cut their price objective on FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.23.

FMC Trading Up 1.4 %

Shares of FMC stock opened at $38.17 on Tuesday. The company has a market cap of $4.77 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84. FMC has a 1 year low of $33.80 and a 1 year high of $68.72. The stock’s 50 day simple moving average is $48.27 and its two-hundred day simple moving average is $56.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.64 and a quick ratio of 1.24.

FMC (NYSE:FMC) last released its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a return on equity of 9.67% and a net margin of 8.03%. Research analysts predict that FMC will post 3.48 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.58 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.08%. FMC’s dividend payout ratio is presently 85.29%.

Insider Activity at FMC

In related news, EVP Michael Finian Reilly sold 2,958 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total transaction of $163,429.50. Following the sale, the executive vice president now owns 25,468 shares of the company’s stock, valued at $1,407,107. This trade represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of FMC

Several hedge funds have recently modified their holdings of FMC. Commerce Bank lifted its holdings in FMC by 3.7% in the third quarter. Commerce Bank now owns 5,135 shares of the basic materials company’s stock valued at $339,000 after acquiring an additional 183 shares during the period. WP Advisors LLC increased its holdings in shares of FMC by 3.3% during the 4th quarter. WP Advisors LLC now owns 6,193 shares of the basic materials company’s stock valued at $301,000 after purchasing an additional 200 shares in the last quarter. International Private Wealth Advisors LLC lifted its stake in shares of FMC by 3.8% in the 4th quarter. International Private Wealth Advisors LLC now owns 5,604 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 205 shares during the period. Blue Trust Inc. boosted its holdings in FMC by 9.9% during the fourth quarter. Blue Trust Inc. now owns 2,620 shares of the basic materials company’s stock worth $127,000 after buying an additional 236 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in FMC by 90.8% during the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares during the period. 91.86% of the stock is owned by hedge funds and other institutional investors.

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.