FMC (NYSE:FMC) Given New $69.00 Price Target at KeyCorp

FMC (NYSE:FMC) had its price target cut by stock analysts at KeyCorp from $79.00 to $69.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would indicate a potential upside of 42.18% from the stock’s current price.

FMC has been the subject of a number of other research reports. UBS Group decreased their target price on FMC from $75.00 to $66.00 and set a “buy” rating for the company in a report on Friday, December 20th. Mizuho raised their price target on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Citigroup dropped their target price on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FMC currently has an average rating of “Hold” and an average price target of $64.92.

FMC Stock Performance

FMC stock opened at $48.53 on Thursday. The business’s fifty day simple moving average is $56.04 and its two-hundred day simple moving average is $59.30. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 1.48 and a beta of 0.80. FMC has a twelve month low of $47.71 and a twelve month high of $68.72. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $0.44 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Analysts predict that FMC will post 3.35 earnings per share for the current year.

Insider Transactions at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently modified their holdings of FMC. Millburn Ridgefield Corp raised its stake in shares of FMC by 186.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 324 shares during the period. First Horizon Advisors Inc. increased its holdings in FMC by 90.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Mather Group LLC. raised 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 during the period. Peterson Financial Group Inc. acquired a new position in FMC during the third quarter worth $51,000. Finally, Brooklyn Investment Group purchased a new position in shares of FMC during the third quarter worth $52,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

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.