FMC (NYSE:FMC) had its price objective lifted by research analysts at Buckingham Research from $94.00 to $100.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Buckingham Research’s price target points to a potential upside of 16.39% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. KeyCorp decreased their price objective on shares of FMC from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Loop Capital set a $102.00 price objective on shares of FMC and gave the company a “buy” rating in a report on Friday, April 12th. Zacks Investment Research upgraded shares of FMC from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Monday, June 3rd. Morgan Stanley assumed coverage on shares of FMC in a report on Monday, May 20th. They issued an “equal weight” rating and a $82.00 price objective for the company. Finally, Credit Suisse Group increased their price objective on shares of FMC from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $95.62.
Shares of FMC stock traded up $0.86 on Thursday, hitting $85.92. The company had a trading volume of 1,034,948 shares, compared to its average volume of 783,222. The business has a 50-day simple moving average of $83.53. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.77. The stock has a market cap of $11.31 billion, a P/E ratio of 13.66, a PEG ratio of 1.39 and a beta of 1.49. FMC has a 52 week low of $69.36 and a 52 week high of $92.76.
In related news, insider Nicholas Pfeiffer sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $80.67, for a total transaction of $197,318.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Douglas sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.12, for a total transaction of $1,389,720.00. Following the sale, the insider now owns 47,594 shares of the company’s stock, valued at $3,575,261.28. The disclosure for this sale can be found here. Insiders have sold 53,946 shares of company stock valued at $3,999,009 over the last 90 days. 1.50% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Boston Partners lifted its position in shares of FMC by 12.4% in the 1st quarter. Boston Partners now owns 6,486,738 shares of the basic materials company’s stock valued at $498,311,000 after acquiring an additional 717,477 shares in the last quarter. Northern Trust Corp lifted its position in shares of FMC by 11.0% in the 1st quarter. Northern Trust Corp now owns 2,713,988 shares of the basic materials company’s stock valued at $208,489,000 after acquiring an additional 268,542 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of FMC by 2.2% in the 1st quarter. King Luther Capital Management Corp now owns 2,712,671 shares of the basic materials company’s stock valued at $208,387,000 after acquiring an additional 58,934 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of FMC by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 1,701,688 shares of the basic materials company’s stock valued at $125,630,000 after acquiring an additional 128,306 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of FMC in the 4th quarter valued at approximately $64,447,000. Hedge funds and other institutional investors own 89.74% of the company’s stock.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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