FMC (NYSE:FMC) Price Target Lowered to $69.00 at KeyCorp

FMC (NYSE:FMC) had its price target lowered by research analysts at KeyCorp from $79.00 to $69.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price would suggest a potential upside of 41.95% from the company’s current price.

Other analysts have also issued research reports about the company. Royal Bank of Canada lifted their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Mizuho boosted their price objective on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 1st. UBS Group reduced their target price on FMC from $75.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Citigroup dropped their price target on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.92.

FMC Stock Performance

Shares of NYSE:FMC opened at $48.61 on Thursday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 1.48 and a beta of 0.80. The firm’s 50-day moving average is $56.57 and its 200 day moving average is $59.42. FMC has a 12 month low of $47.71 and a 12 month high of $68.72. 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 (NYSE:FMC) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that FMC will post 3.35 EPS for the current year.

Insider Transactions at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of FMC by 27.3% in the third quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock valued at $417,151,000 after acquiring an additional 1,343,615 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in FMC by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,344 shares of the basic materials company’s stock valued at $74,931,000 after purchasing an additional 20,350 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock valued at $63,160,000 after buying an additional 836,179 shares during the period. Dimensional Fund Advisors LP grew its position in shares of FMC by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company’s stock worth $41,543,000 after buying an additional 64,055 shares in the last quarter. Finally, New South Capital Management Inc. increased its stake in shares of FMC by 1.5% during the third quarter. New South Capital Management Inc. now owns 665,979 shares of the basic materials company’s stock worth $43,915,000 after buying an additional 9,834 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

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.