FMC’s (FMC) “Outperform” Rating Reaffirmed at Royal Bank of Canada

FMC (NYSE:FMC)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They currently have a $61.00 price target on the basic materials company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 14.96% from the stock’s current price.

A number of other equities research analysts have also commented on FMC. TheStreet lowered FMC from a “b-” rating to a “c+” rating in a research report on Wednesday, July 26th. Morgan Stanley restated an “equal weight” rating and set a $70.00 price target (down from $100.00) on shares of FMC in a report on Tuesday, October 24th. JPMorgan Chase & Co. started coverage on shares of FMC in a research note on Monday, August 21st. They issued a “neutral” rating and a $90.00 price objective on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $59.00 price target (down from $135.00) on shares of FMC in a report on Tuesday, October 24th. Finally, UBS Group dropped their price target on shares of FMC from $64.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FMC has a consensus rating of “Hold” and an average price target of $88.94.

FMC Trading Down 0.7 %

Shares of FMC traded down $0.37 during midday trading on Friday, hitting $53.06. The stock had a trading volume of 477,477 shares, compared to its average volume of 1,289,644. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $134.38. The business has a 50-day simple moving average of $62.76 and a two-hundred day simple moving average of $86.83. The company has a current ratio of 1.54, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The firm has a market cap of $6.62 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90.

FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $981.90 million for the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 18.84% and a net margin of 10.01%. The company’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. As a group, equities analysts forecast that FMC will post 3.81 EPS for the current year.

Insider Buying and Selling at FMC

In other news, EVP Ronaldo Pereira acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average cost of $75.59 per share, with a total value of $151,180.00. Following the acquisition, the executive vice president now owns 21,478 shares in the company, valued at $1,623,522.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other FMC news, EVP Ronaldo Pereira acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average price of $75.59 per share, with a total value of $151,180.00. Following the transaction, the executive vice president now owns 21,478 shares of the company’s stock, valued at $1,623,522.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Pfeiffer purchased 992 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was acquired at an average cost of $75.62 per share, for a total transaction of $75,015.04. Following the completion of the transaction, the insider now owns 13,056 shares in the company, valued at $987,294.72. The disclosure for this purchase can be found here. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On FMC

Large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of FMC by 68.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 93 shares during the period. Orion Capital Management LLC acquired a new stake in FMC during the first quarter worth about $40,000. V Square Quantitative Management LLC bought a new position in FMC during the second quarter valued at about $36,000. ZRC Wealth Management LLC acquired a new position in FMC in the 1st quarter valued at approximately $43,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of FMC by 99.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 351 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 175 shares during the period. 86.91% of the stock is currently owned by institutional investors and hedge funds.

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 include 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.