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

FMC (NYSE:FMC) had its price objective upped by investment analysts at KeyCorp from $79.00 to $81.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective indicates a potential upside of 24.67% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of FMC from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wolfe Research assumed coverage on shares of FMC in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Royal Bank of Canada dropped their target price on shares of FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Loop Capital upped their target price on shares of FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets dropped their target price on shares of FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, FMC currently has a consensus rating of “Hold” and a consensus price target of $71.69.

FMC Price Performance

Shares of FMC traded down $1.78 on Wednesday, hitting $64.97. The company’s stock had a trading volume of 1,638,336 shares, compared to its average volume of 1,977,676. The company has a market capitalization of $8.11 billion, a PE ratio of 6.17, a PEG ratio of 1.99 and a beta of 0.88. 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 fifty-two week low of $49.49 and a fifty-two week high of $112.10. The company 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 earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. FMC had a return on equity of 12.98% and a net margin of 29.45%. The business had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.77 EPS. FMC’s revenue was down 31.7% compared to the same quarter last year. On average, research analysts anticipate that FMC will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of FMC stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the transaction, the chief financial officer now directly owns 50,088 shares in the company, valued at $2,966,211.36. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On FMC

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in FMC by 15.3% during the fourth quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock worth $791,137,000 after acquiring an additional 1,666,096 shares during the period. Tweedy Browne Co LLC increased its holdings in FMC by 105.1% during the 4th quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company’s stock valued at $186,745,000 after acquiring an additional 1,518,053 shares in the last quarter. Norges Bank acquired a new position in FMC during the fourth quarter worth about $83,227,000. Russell Investments Group Ltd. lifted its holdings in shares of FMC by 517.5% in the fourth quarter. Russell Investments Group Ltd. now owns 809,382 shares of the basic materials company’s stock valued at $51,032,000 after purchasing an additional 678,307 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of FMC by 175.2% during the third quarter. Qube Research & Technologies Ltd now owns 835,871 shares of the basic materials company’s stock worth $55,978,000 after buying an additional 532,158 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

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.