FMC (NYSE:FMC) Given New $68.00 Price Target at Wells Fargo & Company

FMC (NYSE:FMC) had its target price hoisted by Wells Fargo & Company from $65.00 to $68.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

Several other research analysts have also issued reports on FMC. StockNews.com lowered shares of FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Mizuho lifted their price objective on shares of FMC from $55.00 to $57.00 and gave the company a neutral rating in a research note on Tuesday. Wolfe Research started coverage on shares of FMC in a research note on Friday, March 1st. They issued a peer perform rating for the company. BMO Capital Markets decreased their price target on shares of FMC from $63.00 to $61.00 and set a market perform rating for the company in a research note on Wednesday, February 7th. Finally, Loop Capital boosted their price target on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $71.69.

FMC Price Performance

FMC stock traded up $2.18 during mid-day trading on Wednesday, hitting $67.02. The stock had a trading volume of 1,347,201 shares, compared to its average volume of 1,983,840. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. FMC has a 52 week low of $49.49 and a 52 week high of $112.10. The firm has a market capitalization of $8.37 billion, a P/E ratio of 6.16, a P/E/G ratio of 1.99 and a beta of 0.88. The firm has a fifty day simple moving average of $60.99 and a 200 day simple moving average of $57.84.

FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $1.77 EPS. The firm’s quarterly revenue was down 31.7% compared to the same quarter last year. As a group, research analysts forecast that FMC will post 3.88 EPS for the current year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio (DPR) is currently 22.03%.

Insider Buying and Selling

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $59.22 per share, with a total value of $127,323.00. Following the acquisition, the chief financial officer now owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On FMC

Institutional investors have recently added to or reduced their stakes in the business. North Point Portfolio Managers Corp OH lifted its holdings in FMC by 67.3% during the fourth quarter. North Point Portfolio Managers Corp OH now owns 118,531 shares of the basic materials company’s stock valued at $7,473,000 after purchasing an additional 47,697 shares during the last quarter. Raymond James & Associates lifted its holdings in FMC by 0.5% during the fourth quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock valued at $7,262,000 after purchasing an additional 610 shares during the last quarter. Invesco Ltd. lifted its holdings in FMC by 37.9% during the third quarter. Invesco Ltd. now owns 1,764,469 shares of the basic materials company’s stock valued at $118,166,000 after purchasing an additional 484,500 shares during the last quarter. Nordea Investment Management AB lifted its holdings in FMC by 15.4% during the third quarter. Nordea Investment Management AB now owns 14,195 shares of the basic materials company’s stock valued at $950,000 after purchasing an additional 1,889 shares during the last quarter. Finally, Exencial Wealth Advisors LLC purchased a new stake in FMC during the third quarter valued at about $664,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Company Profile

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.