Zacks Investment Research downgraded shares of FMC Corporation (NYSE:FMC) from a strong-buy rating to a hold rating in a research note published on Friday.
According to Zacks, “FMC Corp. saw lower profits in the third quarter. Adjusted earnings beat the Zacks Consensus Estimate, but sales missed. FMC Corp. has outperformed the industry it belongs to over a year. The company is seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. The acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. The company should also gain from its efforts to expand product portfolio. However, FMC Corp. is faced with challenging agriculture market fundamentals, especially in Latin America. It is also exposed to headwind from weak prices in its agriculture unit, mostly in Brazil. The company’s stretched valuation is another concern.”
FMC has been the topic of a number of other research reports. Jefferies Group LLC reiterated a buy rating and issued a $108.00 price objective on shares of FMC Corporation in a research report on Thursday, October 12th. Credit Suisse Group reiterated an outperform rating and issued a $102.00 price objective (up previously from $93.00) on shares of FMC Corporation in a research report on Wednesday, November 8th. Nomura upgraded FMC Corporation from a neutral rating to a buy rating and increased their price objective for the stock from $78.00 to $97.00 in a research report on Friday, August 4th. BidaskClub upgraded FMC Corporation from a hold rating to a buy rating in a research report on Saturday, August 5th. Finally, Susquehanna Bancshares Inc increased their target price on FMC Corporation from $86.00 to $100.00 and gave the company a positive rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $90.94.
Shares of FMC Corporation (NYSE FMC) traded up $0.99 during mid-day trading on Friday, hitting $94.21. The company had a trading volume of 296,843 shares, compared to its average volume of 1,293,995. The company has a quick ratio of 1.81, a current ratio of 2.19 and a debt-to-equity ratio of 0.70. FMC Corporation has a one year low of $52.24 and a one year high of $95.08. The stock has a market capitalization of $12,670.00, a P/E ratio of 37.44, a PEG ratio of 3.12 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. FMC Corporation had a return on equity of 16.77% and a net margin of 0.78%. The company had revenue of $646.20 million for the quarter, compared to the consensus estimate of $686.21 million. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. sell-side analysts predict that FMC Corporation will post 2.66 earnings per share for the current fiscal year.
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In other news, VP Andrea E. Utecht sold 14,174 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the transaction, the vice president now directly owns 131,639 shares of the company’s stock, valued at $11,057,676. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in FMC. Advisor Partners LLC bought a new position in shares of FMC Corporation during the third quarter valued at about $216,000. Achmea Investment Management B.V. bought a new position in shares of FMC Corporation during the third quarter valued at about $246,000. Nordea Investment Management AB grew its stake in shares of FMC Corporation by 99.7% during the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after buying an additional 4,015 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of FMC Corporation during the third quarter worth about $831,000. Finally, Hanseatic Management Services Inc. boosted its holdings in shares of FMC Corporation by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 1,688 shares during the period. 90.69% of the stock is currently owned by hedge funds and other institutional investors.
FMC Corporation Company Profile
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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