Nomura reiterated their hold rating on shares of FMC Corp (NYSE:FMC) in a research report report published on Monday, May 8th. They currently have a $78.00 price objective on the basic materials company’s stock.
Several other brokerages also recently commented on FMC. Piper Jaffray Companies boosted their target price on FMC Corp from $51.00 to $55.00 and gave the stock a neutral rating in a report on Wednesday, February 8th. Longbow Research raised FMC Corp from a neutral rating to a buy rating and set a $70.00 target price on the stock in a report on Wednesday, February 8th. Jefferies Group LLC set a $70.00 price objective on shares of FMC Corp and gave the stock a buy rating in a research report on Saturday, March 25th. Robert W. Baird restated a neutral rating and issued a $76.00 price objective (up previously from $67.00) on shares of FMC Corp in a research report on Sunday, April 2nd. Finally, Citigroup Inc boosted their price objective on shares of FMC Corp from $62.00 to $75.00 and gave the stock a neutral rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. FMC Corp has a consensus rating of Buy and a consensus target price of $74.16.
FMC Corp (NYSE:FMC) last released its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.13. The company had revenue of $596 million for the quarter, compared to analyst estimates of $742.50 million. FMC Corp had a net margin of 6.37% and a return on equity of 18.60%.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, June 28th. FMC Corp’s payout ratio is presently 42.31%.
In related news, Director William Howard Powell sold 3,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.73, for a total value of $218,190.00. Following the completion of the transaction, the director now directly owns 17,554 shares of the company’s stock, valued at approximately $1,276,702.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Andrea E. Utecht sold 14,434 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $74.62, for a total transaction of $1,077,065.08. Following the completion of the transaction, the vice president now directly owns 131,899 shares of the company’s stock, valued at $9,842,303.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,792 shares of company stock valued at $2,155,624. Company insiders own 1.00% of the company’s stock.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of FMC Corp by 2,944.3% in the first quarter. BlackRock Inc. now owns 8,723,379 shares of the basic materials company’s stock worth $607,062,000 after buying an additional 8,436,830 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new stake in shares of FMC Corp during the first quarter worth about $167,824,000. Russell Investments Group Ltd. purchased a new stake in shares of FMC Corp during the fourth quarter worth about $93,531,000. Norges Bank purchased a new stake in shares of FMC Corp during the fourth quarter worth about $59,302,000. Finally, Glenview Capital Management LLC boosted its stake in shares of FMC Corp by 10.8% in the first quarter. Glenview Capital Management LLC now owns 10,577,624 shares of the basic materials company’s stock worth $736,097,000 after buying an additional 1,029,806 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors.
About FMC Corp
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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