FMC Co. (NYSE:FMC) Declares $0.58 Quarterly Dividend

FMC Co. (NYSE:FMC) declared a quarterly dividend on Friday, July 19th, RTT News reports. Investors of record on Monday, September 30th will be paid a dividend of 0.58 per share by the basic materials company on Thursday, October 17th. This represents a $2.32 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, September 30th.

FMC has raised its dividend payment by an average of 8.8% annually over the last three years. FMC has a dividend payout ratio of 49.4% 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 Performance

NYSE:FMC opened at $66.08 on Friday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 1.57 and a beta of 0.85. FMC has a 1 year low of $49.49 and a 1 year high of $68.72. The stock’s 50 day simple moving average is $62.37 and its two-hundred day simple moving average is $60.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. FMC’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. As a group, equities analysts anticipate that FMC will post 3.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. KeyCorp lowered their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.47.

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.