FMC (NYSE:FMC) Cut to “Neutral” at Redburn Atlantic

FMC (NYSE:FMC) was downgraded by investment analysts at Redburn Atlantic from a “buy” rating to a “neutral” rating in a note issued to investors on Friday,Finviz reports. They presently have a $49.00 price target on the basic materials company’s stock. Redburn Atlantic’s price objective suggests a potential upside of 33.45% from the company’s previous close.

A number of other equities research analysts have also recently commented on FMC. Mizuho reduced their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets lowered their target price on FMC from $62.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Citigroup lifted their price target on shares of FMC from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Bank of America reaffirmed an “underperform” rating and issued a $48.00 price objective (down from $61.00) on shares of FMC in a research note on Wednesday, February 5th. Finally, Morgan Stanley decreased their target price on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.62.

FMC Stock Performance

Shares of NYSE FMC opened at $36.72 on Friday. FMC has a one year low of $33.80 and a one year high of $68.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.64 and a quick ratio of 1.09. The stock’s fifty day moving average price is $50.19 and its two-hundred day moving average price is $57.76. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.75 and a beta of 0.84.

FMC (NYSE:FMC) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, equities analysts forecast that FMC will post 3.53 EPS for the current year.

Insider Activity at FMC

In related news, EVP Michael Finian Reilly sold 2,958 shares of the company’s stock in a transaction that occurred 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 approximately $1,407,107. This represents a 10.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On FMC

Several hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp lifted its holdings in shares of FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 324 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in FMC by 90.8% during the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of FMC in the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in shares of FMC by 217.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 511 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of FMC during the 4th quarter valued at about $37,000. 91.86% of the stock is currently 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.