FMC Co. (NYSE:FMC) Announces Quarterly Dividend of $0.58

FMC Co. (NYSE:FMC) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.58 per share by the basic materials company on Thursday, July 18th. This represents a $2.32 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Friday, June 28th.

FMC has raised its dividend by an average of 8.8% per year over the last three years. FMC has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect FMC to earn $4.71 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 49.3%.

FMC Stock Up 0.4 %

NYSE:FMC opened at $56.74 on Thursday. The company’s 50-day simple moving average is $59.90 and its 200-day simple moving average is $59.27. The stock has a market capitalization of $7.08 billion, a P/E ratio of 6.33, a P/E/G ratio of 1.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.46. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $107.15.

FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. FMC had a return on equity of 7.68% and a net margin of 27.65%. The firm 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. The firm’s revenue for the quarter was down 31.7% on a year-over-year basis. On average, equities analysts anticipate that FMC will post 3.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group upgraded shares of FMC from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $61.00 to $84.00 in a research note on Wednesday, March 20th. Mizuho boosted their price objective on shares of FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Barclays initiated coverage on FMC in a research report on Wednesday. They issued an “equal weight” rating and a $62.00 target price on the stock. Wells Fargo & Company lifted their price target on FMC from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 8th. Finally, Wolfe Research assumed coverage on FMC in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, FMC has an average rating of “Hold” and an average price target of $70.06.

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.