FMC (FMC) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of FMC (NYSE:FMC) in a research note issued to investors on Monday, MarketBeat reports. The brokerage issued a buy rating and a $92.00 price objective on the basic materials company’s stock.

Several other research analysts also recently commented on the company. ValuEngine raised FMC from a sell rating to a hold rating in a report on Thursday, November 1st. Zacks Investment Research downgraded FMC from a buy rating to a hold rating in a report on Thursday, July 19th. Finally, Nomura boosted their target price on FMC from $100.00 to $106.00 and gave the stock a buy rating in a report on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $102.15.

Shares of FMC opened at $83.67 on Monday. The company has a market capitalization of $11.26 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 0.75 and a beta of 1.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.54. FMC has a one year low of $72.73 and a one year high of $98.70.

FMC (NYSE:FMC) last announced its earnings results on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. FMC had a return on equity of 26.26% and a net margin of 22.28%. FMC’s revenue was up 60.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. On average, sell-side analysts expect that FMC will post 6.05 EPS for the current fiscal year.

In other FMC news, COO Mark Douglas bought 4,250 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was bought at an average price of $86.13 per share, for a total transaction of $366,052.50. Following the transaction, the chief operating officer now owns 59,943 shares of the company’s stock, valued at approximately $5,162,890.59. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dirk A. Kempthorne bought 1,173 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were acquired at an average price of $86.12 per share, with a total value of $101,018.76. Following the transaction, the director now directly owns 35,783 shares in the company, valued at approximately $3,081,631.96. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of FMC by 1.6% during the 2nd quarter. BlackRock Inc. now owns 9,035,632 shares of the basic materials company’s stock valued at $806,069,000 after acquiring an additional 143,241 shares during the last quarter. Boston Partners raised its position in shares of FMC by 29.2% during the 2nd quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock valued at $376,511,000 after acquiring an additional 953,377 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of FMC by 2.9% in the 2nd quarter. King Luther Capital Management Corp now owns 2,483,582 shares of the basic materials company’s stock valued at $221,560,000 after buying an additional 69,370 shares in the last quarter. Northern Trust Corp increased its position in shares of FMC by 7.0% in the 2nd quarter. Northern Trust Corp now owns 2,427,168 shares of the basic materials company’s stock valued at $216,528,000 after buying an additional 158,579 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of FMC by 5.7% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,275,165 shares of the basic materials company’s stock valued at $198,349,000 after buying an additional 121,942 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

FMC Company Profile

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.

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Analyst Recommendations for FMC (NYSE:FMC)

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