FMC (FMC) Receives New Coverage from Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of FMC (NYSE:FMC) in a report released on Monday, Marketbeat reports. The firm issued an outperform rating and a $103.00 target price on the basic materials company’s stock.

A number of other equities research analysts also recently commented on the company. Nomura lifted their target price on FMC from $100.00 to $106.00 and gave the company a buy rating in a research report on Wednesday, July 11th. ValuEngine downgraded FMC from a hold rating to a sell rating in a research report on Wednesday, October 17th. Citigroup initiated coverage on FMC in a research report on Monday. They issued a buy rating and a $92.00 target price on the stock. Finally, Zacks Investment Research downgraded FMC from a buy rating to a hold rating in a research report on Thursday, July 19th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. FMC presently has an average rating of Buy and an average target price of $102.15.

Shares of FMC stock opened at $83.42 on Monday. FMC has a one year low of $72.73 and a one year high of $98.70. The company has a market cap of $11.26 billion, a P/E ratio of 30.78, a P/E/G ratio of 0.75 and a beta of 1.60. The company has a current ratio of 1.54, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.06. FMC had a return on equity of 26.26% and a net margin of 22.28%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up 60.4% compared to the same quarter last year. On average, research analysts predict that FMC will post 6.05 earnings per share for the current year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new position in FMC during the 2nd quarter worth $376,000. Northern Trust Corp grew its stake in FMC by 7.0% during the 2nd quarter. Northern Trust Corp now owns 2,427,168 shares of the basic materials company’s stock worth $216,528,000 after purchasing an additional 158,579 shares in the last quarter. South Texas Money Management Ltd. acquired a new position in FMC during the 2nd quarter worth $318,000. Fred Alger Management Inc. grew its stake in FMC by 8,449.8% during the 2nd quarter. Fred Alger Management Inc. now owns 40,184 shares of the basic materials company’s stock worth $3,585,000 after purchasing an additional 39,714 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in FMC during the 3rd quarter worth $878,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

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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