Morgan Stanley Cuts FMC (NYSE:FMC) Price Target to $46.00

FMC (NYSE:FMC) had its target price cut by Morgan Stanley from $70.00 to $46.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other research analysts have also recently commented on the company. Royal Bank of Canada cut FMC from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $78.00 to $47.00 in a research note on Wednesday. KeyCorp cut their price target on FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Barclays upgraded FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 price target on the stock in a research note on Tuesday, January 21st. UBS Group cut their price target on FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Mizuho cut their price target on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.00.

FMC Price Performance

Shares of NYSE FMC opened at $34.51 on Wednesday. FMC has a 1-year low of $33.80 and a 1-year high of $68.72. The business has a 50-day moving average of $51.99 and a 200-day moving average of $58.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 2.97, a PEG ratio of 1.20 and a beta of 0.84.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. FMC had a return on equity of 7.68% and a net margin of 34.93%. On average, equities analysts anticipate that FMC will post 3.33 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend was Tuesday, December 31st. FMC’s payout ratio is 85.29%.

Insider Transactions at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Finian Reilly sold 2,958 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total value of $163,429.50. Following the sale, the executive vice president now owns 25,468 shares in the company, valued at $1,407,107. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,491 shares of company stock worth $433,898. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FMC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp grew its holdings 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. boosted its stake in FMC by 90.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Mather Group LLC. boosted its stake in FMC by 250.6% during the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 396 shares in the last quarter. Golden State Wealth Management LLC bought a new position in FMC during the 4th quarter valued at $29,000. Finally, Peterson Financial Group Inc. bought a new position in FMC during the 3rd quarter valued at $51,000. 91.86% of the stock is 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.