FMC (NYSE:FMC) had its price objective upped by Credit Suisse Group from $105.00 to $113.00 in a research note published on Tuesday, The Fly reports. They currently have an outperform rating on the basic materials company’s stock.
Several other research analysts also recently issued reports on the stock. Loop Capital initiated coverage on shares of FMC in a research note on Friday, November 9th. They issued a buy rating and a $118.00 target price on the stock. ValuEngine downgraded shares of FMC from a hold rating to a sell rating in a research note on Wednesday, October 17th. Citigroup initiated coverage on shares of FMC in a research note on Monday, November 5th. They issued a buy rating and a $92.00 target price on the stock. Finally, Buckingham Research initiated coverage on shares of FMC in a research note on Wednesday, November 14th. They issued a buy rating and a $106.00 target price on the stock. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $102.08.
NYSE:FMC opened at $80.08 on Tuesday. FMC has a one year low of $72.73 and a one year high of $98.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.10 and a current ratio of 1.54. The stock has a market cap of $11.11 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63.
FMC (NYSE:FMC) last posted its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. FMC had a net margin of 22.28% and a return on equity of 26.26%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. FMC’s quarterly revenue was up 60.4% on a year-over-year basis. Research analysts anticipate that FMC will post 5.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Friday, December 28th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 27th. This is an increase from FMC’s previous quarterly dividend of $0.17. FMC’s dividend payout ratio is currently 24.35%.
FMC declared that its Board of Directors has initiated a stock repurchase program on Monday, December 3rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. bought a new position in FMC during the third quarter valued at approximately $125,000. Thompson Davis & CO. Inc. lifted its position in FMC by 307.1% during the second quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,075 shares during the period. Piedmont Investment Advisors LLC bought a new position in FMC during the second quarter valued at approximately $139,000. Moneta Group Investment Advisors LLC bought a new position in FMC during the second quarter valued at approximately $157,000. Finally, Capital Guardian Trust Co. bought a new position in FMC during the third quarter valued at approximately $174,000. Institutional investors own 90.07% of the company’s stock.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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