FMC (NYSE:FMC) Price Target Cut to $46.00 by Analysts at Morgan Stanley

FMC (NYSE:FMC) had its price objective reduced by Morgan Stanley from $70.00 to $46.00 in a report issued on Wednesday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other analysts have also issued reports on FMC. Barclays upgraded shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 price target on the stock in a research report on Tuesday, January 21st. Mizuho reduced their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. UBS Group lowered their price objective on shares of FMC from $75.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada downgraded FMC from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $78.00 to $47.00 in a research report on Wednesday. Finally, Citigroup boosted their price target on FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.62.

FMC Price Performance

Shares of FMC stock opened at $36.00 on Wednesday. The stock has a market cap of $4.49 billion, a PE ratio of 3.10, a PEG ratio of 1.20 and a beta of 0.84. The firm’s 50 day moving average price is $52.96 and its two-hundred day moving average price is $58.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. FMC has a 52-week low of $34.00 and a 52-week high of $68.72.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. FMC had a return on equity of 7.68% and a net margin of 34.93%. As a group, analysts forecast that FMC will post 3.33 EPS for the current year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.44%. FMC’s payout ratio is presently 19.97%.

Insider Transactions at FMC

In other FMC news, EVP Michael Finian Reilly sold 2,958 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total transaction of $163,429.50. Following the sale, the executive vice president now owns 25,468 shares of the company’s stock, valued at $1,407,107. The trade was a 10.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the sale, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,491 shares of company stock worth $433,898 in the last quarter. Insiders own 0.81% of the company’s stock.

Institutional Trading of FMC

A number of hedge funds have recently made changes to their positions in the stock. Barnett & Company Inc. bought a new stake in shares of FMC in the third quarter worth about $2,265,000. Inspire Trust Co. N.A. lifted its position in FMC by 18.7% during the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock valued at $3,970,000 after buying an additional 9,500 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of FMC by 20.9% during the 4th quarter. Reinhart Partners LLC. now owns 227,328 shares of the basic materials company’s stock valued at $11,050,000 after buying an additional 39,230 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of FMC by 27.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock worth $2,867,000 after acquiring an additional 9,449 shares in the last quarter. Finally, First National Bank of Omaha lifted its position in FMC by 85.7% during the 3rd quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company’s stock valued at $2,238,000 after acquiring an additional 15,662 shares during the period. 91.86% of the stock is owned by institutional investors.

FMC Company Profile

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.