Nomura Boosts FMC (NYSE:FMC) Price Target to $100.00

FMC (NYSE:FMC) had its price target raised by Nomura from $93.00 to $100.00 in a research report report published on Thursday, BenzingaRatingsTable reports. Nomura currently has a buy rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on the company. SunTrust Banks raised their price target on FMC to $98.00 and gave the company a buy rating in a report on Thursday. KeyCorp decreased their price target on FMC from $105.00 to $95.00 and set an overweight rating on the stock in a report on Friday, April 12th. Bank of America cut FMC from a buy rating to a neutral rating in a report on Thursday. Royal Bank of Canada cut FMC from an outperform rating to a sector perform rating and decreased their price target for the company from $100.00 to $87.00 in a report on Thursday, April 18th. They noted that the move was a valuation call. Finally, Citigroup reissued a buy rating and set a $93.00 price target (up from $91.00) on shares of FMC in a report on Thursday, June 13th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $95.62.

FMC stock traded down $3.66 during trading on Thursday, reaching $82.26. The company had a trading volume of 18,488 shares, compared to its average volume of 873,219. FMC has a 52 week low of $69.36 and a 52 week high of $92.76. The business’s 50-day moving average is $83.53. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.38 and a beta of 1.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 0.92.

FMC (NYSE:FMC) last announced its earnings results on Tuesday, July 30th. The basic materials company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. FMC had a return on equity of 27.33% and a net margin of 10.65%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $1.78 EPS. FMC’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that FMC will post 5.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. FMC’s payout ratio is 25.44%.

In other news, CEO Pierre R. Brondeau sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $73.09, for a total transaction of $2,411,970.00. Following the completion of the transaction, the chief executive officer now owns 284,814 shares in the company, valued at $20,817,055.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Douglas sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total value of $1,389,720.00. Following the transaction, the insider now owns 47,594 shares of the company’s stock, valued at approximately $3,575,261.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,946 shares of company stock valued at $3,999,009. Company insiders own 1.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Squar Milner Financial Services LLC grew its position in shares of FMC by 51.4% during the second quarter. Squar Milner Financial Services LLC now owns 383 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 130 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in FMC by 2.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 7,054 shares of the basic materials company’s stock worth $658,000 after acquiring an additional 138 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in FMC by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 20,462 shares of the basic materials company’s stock worth $1,572,000 after acquiring an additional 170 shares in the last quarter. Securian Asset Management Inc grew its position in FMC by 1.3% in the first quarter. Securian Asset Management Inc now owns 13,846 shares of the basic materials company’s stock worth $1,064,000 after acquiring an additional 174 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in FMC by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 24,673 shares of the basic materials company’s stock worth $2,046,000 after acquiring an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

About FMC

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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