Citigroup Has Lowered Expectations for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price objective reduced by investment analysts at Citigroup from $70.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Citigroup’s price target would indicate a potential upside of 14.92% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Mizuho upped their price target on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.08.

FMC Stock Performance

Shares of NYSE FMC opened at $47.86 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $58.90 and its two-hundred day moving average price is $59.88. FMC has a 52-week low of $47.73 and a 52-week high of $68.72. The stock has a market capitalization of $5.97 billion, a P/E ratio of 4.12, a P/E/G ratio of 1.48 and a beta of 0.80.

FMC (NYSE:FMC) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.20. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. As a group, sell-side analysts forecast that FMC will post 3.35 earnings per share for the current year.

Insider Buying and Selling at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the sale, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FMC

Several hedge funds and other institutional investors have recently bought and sold shares of FMC. Barnett & Company Inc. acquired a new position in shares of FMC in the 3rd quarter worth approximately $2,265,000. Inspire Trust Co. N.A. boosted its holdings in FMC by 18.7% during the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock worth $3,970,000 after buying an additional 9,500 shares in the last quarter. Advisors Asset Management Inc. grew its position in FMC by 27.8% in the third quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock worth $2,867,000 after buying an additional 9,449 shares during the last quarter. First National Bank of Omaha grew its position in FMC by 85.7% in the third quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company’s stock worth $2,238,000 after buying an additional 15,662 shares during the last quarter. Finally, tru Independence LLC bought a new position in shares of FMC in the third quarter valued at $5,323,000. 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.