KeyCorp Issues Positive Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price hoisted by investment analysts at KeyCorp from $49.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price target would suggest a potential upside of 40.17% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets dropped their price objective on FMC from $62.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. UBS Group increased their price target on shares of FMC from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada cut shares of FMC from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $78.00 to $47.00 in a report on Wednesday, February 5th. Redburn Atlantic lowered shares of FMC from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Friday, February 14th. Finally, Vertical Research raised shares of FMC to a “hold” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.46.

FMC Stock Performance

Shares of NYSE:FMC opened at $37.81 on Friday. The stock has a market capitalization of $4.72 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.90 and a beta of 0.83. The company has a current ratio of 1.64, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67. FMC has a 1-year low of $32.83 and a 1-year high of $68.72. The business has a 50-day moving average price of $39.49 and a two-hundred day moving average price of $48.23.

FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.10. FMC had a net margin of 8.03% and a return on equity of 9.67%. The business had revenue of $791.40 million for the quarter, compared to analyst estimates of $783.70 million. During the same period in the prior year, the business posted $0.36 earnings per share. FMC’s revenue was down 13.8% compared to the same quarter last year. Equities analysts predict that FMC will post 3.48 earnings per share for the current year.

Insider Buying and Selling at FMC

In related news, Director Carol Anthony Davidson acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $37.33 per share, for a total transaction of $223,980.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $223,980. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronaldo Pereira bought 5,600 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $35.77 per share, for a total transaction of $200,312.00. Following the completion of the acquisition, the insider now owns 48,837 shares of the company’s stock, valued at $1,746,899.49. The trade was a 12.95 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of institutional investors have recently bought and sold shares of FMC. Vanguard Group Inc. boosted its stake in shares of FMC by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,291,878 shares of the basic materials company’s stock worth $743,338,000 after acquiring an additional 180,766 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of FMC by 7.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,375,911 shares of the basic materials company’s stock valued at $212,714,000 after purchasing an additional 321,241 shares during the last quarter. Invesco Ltd. increased its holdings in shares of FMC by 37.8% in the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock valued at $173,008,000 after purchasing an additional 977,110 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of FMC by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,995,691 shares of the basic materials company’s stock worth $145,452,000 after buying an additional 54,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of FMC by 44.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock worth $111,131,000 after buying an additional 707,727 shares during the period. Institutional investors and hedge funds own 91.86% of the company’s stock.

About FMC

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.