FMC (NYSE:FMC) Given New $69.00 Price Target at KeyCorp

FMC (NYSE:FMC) had its target price reduced by KeyCorp from $79.00 to $69.00 in a report released on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

A number of other research firms have also commented on FMC. UBS Group dropped their target price on FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada boosted their price objective on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Citigroup decreased their target price on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Mizuho boosted 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FMC currently has a consensus rating of “Hold” and a consensus target price of $64.92.

FMC Price Performance

Shares of NYSE:FMC opened at $48.74 on Thursday. The firm’s 50 day moving average is $56.31 and its two-hundred day moving average is $59.35. The firm has a market capitalization of $6.08 billion, a P/E ratio of 4.19, a PEG ratio of 1.48 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. FMC has a 52 week low of $47.71 and a 52 week high of $68.72.

FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. Analysts anticipate that FMC will post 3.35 earnings per share for the current year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, December 31st. FMC’s dividend payout ratio (DPR) is currently 19.97%.

Insider Activity

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at $1,709,485.83. The trade was a 13.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of FMC

Several institutional investors have recently made changes to their positions in FMC. Millburn Ridgefield Corp lifted its position in FMC by 186.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock worth $33,000 after buying an additional 324 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of FMC by 90.8% in the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 246 shares during the last quarter. Mather Group LLC. raised its holdings in shares of FMC by 250.6% during the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 396 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of FMC during the third quarter worth $51,000. Finally, Brooklyn Investment Group acquired a new stake in FMC during the third quarter valued at $52,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.

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.