FMC Co. (NYSE:FMC) Declares $0.58 Quarterly Dividend

FMC Co. (NYSE:FMC) declared a quarterly dividend on Friday, February 28th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.58 per share by the basic materials company on Thursday, April 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.29%.

FMC has increased its dividend payment by an average of 5.6% per year over the last three years. FMC has a payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect FMC to earn $3.95 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 58.7%.

FMC Trading Down 2.2 %

NYSE FMC traded down $0.84 on Friday, reaching $36.87. The company had a trading volume of 2,895,777 shares, compared to its average volume of 2,937,421. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.90 and a beta of 0.84. FMC has a fifty-two week low of $33.80 and a fifty-two week high of $68.72. The business has a 50 day moving average of $47.00 and a two-hundred day moving average of $56.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.64 and a quick ratio of 1.24.

FMC (NYSE:FMC) last released its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. Analysts forecast that FMC will post 3.48 EPS for the current year.

Insider Activity at FMC

In other FMC news, EVP Michael Finian Reilly sold 2,958 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the completion of the sale, the executive vice president now owns 25,468 shares in the company, valued at approximately $1,407,107. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FMC has been the topic of several research analyst reports. Citigroup upped their target price on FMC from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Vertical Research upgraded shares of FMC to a “hold” rating in a research note on Wednesday, February 5th. Bank of America reissued an “underperform” rating and set a $48.00 target price (down from $61.00) on shares of FMC in a research note on Wednesday, February 5th. KeyCorp decreased their price target on shares of FMC from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, StockNews.com lowered shares of FMC from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.23.

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.