FMC Corp (NYSE:FMC) – Analysts at Jefferies Financial Group dropped their Q2 2019 earnings estimates for FMC in a report released on Thursday, May 16th. Jefferies Financial Group analyst L. Alexander now anticipates that the basic materials company will earn $1.66 per share for the quarter, down from their prior forecast of $1.68. Jefferies Financial Group currently has a “Buy” rating and a $112.00 target price on the stock. Jefferies Financial Group also issued estimates for FMC’s FY2020 earnings at $6.95 EPS, FY2021 earnings at $7.55 EPS and FY2022 earnings at $8.15 EPS.
Other analysts have also recently issued reports about the stock. Loop Capital decreased their target price on shares of FMC from $118.00 to $101.00 and set a “buy” rating on the stock in a research report on Sunday, March 3rd. ValuEngine upgraded shares of FMC from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Stephens set a $95.00 target price on shares of FMC and gave the company a “buy” rating in a research report on Thursday, February 28th. KeyCorp cut their price target on shares of FMC from $112.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Finally, Citigroup set a $94.00 price target on shares of FMC and gave the company a “buy” rating in a report on Thursday, February 14th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $95.25.
FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. FMC had a net margin of 9.57% and a return on equity of 27.53%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 EPS.
Hedge funds have recently modified their holdings of the business. Mackay Shields LLC grew its stake in FMC by 13.6% in the 4th quarter. Mackay Shields LLC now owns 24,396 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 2,924 shares in the last quarter. Chartwell Investment Partners LLC grew its stake in FMC by 1,550.9% in the 1st quarter. Chartwell Investment Partners LLC now owns 222,712 shares of the basic materials company’s stock worth $17,109,000 after acquiring an additional 209,222 shares in the last quarter. Machina Capital S.A.S. bought a new position in FMC in the 4th quarter worth about $436,000. Starr International Co. Inc. bought a new position in FMC in the 1st quarter worth about $135,000. Finally, IFM Investors Pty Ltd grew its stake in FMC by 10.1% in the 4th quarter. IFM Investors Pty Ltd now owns 8,593 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 791 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.
In other FMC news, insider Mark Douglas sold 18,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total value of $1,389,720.00. Following the transaction, the insider now directly owns 47,594 shares in the company, valued at approximately $3,575,261.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert C. Pallash sold 6,992 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $87.28, for a total transaction of $610,261.76. Following the completion of the transaction, the director now owns 37,458 shares in the company, valued at $3,269,334.24. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 2.19%. FMC’s payout ratio is 25.44%.
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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