Mizuho Cuts FMC (NYSE:FMC) Price Target to $55.00

FMC (NYSE:FMC) had its price target cut by Mizuho from $70.00 to $55.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other brokerages have also issued reports on FMC. UBS Group cut their price target on FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. KeyCorp reduced their target price on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Citigroup dropped their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.92.

FMC Stock Down 1.4 %

Shares of NYSE FMC opened at $50.39 on Tuesday. FMC has a 12-month low of $47.71 and a 12-month high of $68.72. The firm’s 50-day simple moving average is $55.01 and its 200 day simple moving average is $59.15. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 4.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.83.

FMC (NYSE:FMC) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. FMC’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that FMC will post 3.35 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 31st will be given a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 annualized dividend and a dividend yield of 4.60%. FMC’s dividend payout ratio is presently 19.97%.

Insiders Place Their Bets

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the sale, the vice president now owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Millburn Ridgefield Corp boosted its position in FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 324 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in FMC by 90.8% during the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Mather Group LLC. grew its position in FMC by 250.6% in the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 396 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in FMC in the 3rd quarter valued at $51,000. Finally, Brooklyn Investment Group bought a new stake in FMC during the 3rd quarter worth about $52,000. 91.86% of the stock is currently owned by 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.