FMC (NYSE:FMC) Given New $65.00 Price Target at BMO Capital Markets

FMC (NYSE:FMC) had its target price hoisted by BMO Capital Markets from $60.00 to $65.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a market perform rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on the company. Mizuho lifted their price target on FMC from $55.00 to $57.00 and gave the company a neutral rating in a research note on Tuesday, May 7th. Redburn Atlantic upgraded shares of FMC from a hold rating to a strong-buy rating in a report on Friday, July 19th. StockNews.com raised FMC from a sell rating to a hold rating in a report on Wednesday, May 8th. Royal Bank of Canada boosted their price objective on FMC from $65.00 to $81.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Finally, Barclays assumed coverage on FMC in a research note on Wednesday, June 26th. They issued an equal weight rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $68.06.

FMC Stock Up 0.4 %

NYSE:FMC traded up $0.27 during trading hours on Friday, reaching $61.93. The company had a trading volume of 774,967 shares, compared to its average volume of 1,982,648. The business’s 50-day simple moving average is $57.75 and its two-hundred day simple moving average is $58.85. FMC has a twelve month low of $49.49 and a twelve month high of $92.24. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 1.65 and a beta of 0.84. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts expect that FMC will post 3.17 earnings per share for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.58 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.32 annualized dividend and a yield of 3.75%. FMC’s dividend payout ratio is currently 25.89%.

Hedge Funds Weigh In On FMC

Several hedge funds have recently bought and sold shares of the company. Norden Group LLC purchased a new stake in shares of FMC in the first quarter worth $4,700,000. Leeward Investments LLC MA grew its holdings in shares of FMC by 62.8% during the first quarter. Leeward Investments LLC MA now owns 193,156 shares of the basic materials company’s stock worth $12,304,000 after purchasing an additional 74,529 shares in the last quarter. S&CO Inc. increased its position in shares of FMC by 6.7% in the fourth quarter. S&CO Inc. now owns 235,126 shares of the basic materials company’s stock worth $14,824,000 after purchasing an additional 14,710 shares during the last quarter. Raymond James & Associates raised its stake in FMC by 0.5% in the fourth quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock valued at $7,262,000 after purchasing an additional 610 shares in the last quarter. Finally, Invenomic Capital Management LP purchased a new position in FMC in the 4th quarter worth approximately $18,815,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

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.