FMC (NYSE:FMC) Coverage Initiated by Analysts at Citigroup

Citigroup started coverage on shares of FMC (NYSE:FMC) in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $67.00 target price on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. KeyCorp lowered their price objective on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. BMO Capital Markets increased their price objective on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Barclays increased their price objective on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company lowered their price objective on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

FMC Stock Up 0.8 %

Shares of NYSE:FMC opened at $62.00 on Wednesday. FMC has a 52 week low of $49.49 and a 52 week high of $68.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The company has a market capitalization of $7.74 billion, a PE ratio of 5.60, a PEG ratio of 1.59 and a beta of 0.85. The company has a 50 day moving average price of $63.32 and a two-hundred day moving average price of $60.75.

FMC (NYSE:FMC) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that FMC will post 3.31 earnings per share for the current year.

Institutional Trading of FMC

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in FMC by 5.3% in the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock valued at $973,987,000 after acquiring an additional 768,432 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in FMC by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after acquiring an additional 1,316,133 shares during the last quarter. AQR Capital Management LLC lifted its stake in FMC by 317.7% in the second quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock valued at $63,160,000 after acquiring an additional 836,179 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of FMC by 11.6% in the first quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company’s stock valued at $57,538,000 after purchasing an additional 93,892 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of FMC by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock valued at $49,385,000 after purchasing an additional 17,381 shares during the period. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.