FMC (NYSE:FMC – Free Report) had its target price cut by UBS Group from $64.00 to $59.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.
Several other equities research analysts also recently issued reports on the company. Mizuho decreased their price target on FMC from $122.00 to $98.00 and set a buy rating for the company in a report on Tuesday, October 10th. KeyCorp lowered their target price on shares of FMC from $107.00 to $83.00 and set an overweight rating for the company in a report on Tuesday, October 24th. Vertical Research upgraded shares of FMC from a hold rating to a buy rating and set a $94.00 price target on the stock in a report on Monday, October 16th. BMO Capital Markets decreased their price objective on shares of FMC from $90.00 to $80.00 and set an outperform rating for the company in a research note on Tuesday, October 24th. Finally, Wells Fargo & Company dropped their target price on shares of FMC from $99.00 to $73.00 and set an equal weight rating on the stock in a research report on Monday, October 23rd. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FMC currently has a consensus rating of Hold and an average price target of $88.94.
FMC Stock Performance
FMC (NYSE:FMC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $981.90 million during the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 10.01% and a return on equity of 18.84%. FMC’s revenue was down 28.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Sell-side analysts predict that FMC will post 3.81 earnings per share for the current fiscal year.
Insider Transactions at FMC
In other FMC news, EVP Ronaldo Pereira purchased 2,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $75.59 per share, with a total value of $151,180.00. Following the acquisition, the executive vice president now directly owns 21,478 shares in the company, valued at approximately $1,623,522.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Nicholas Pfeiffer bought 992 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average cost of $75.62 per share, for a total transaction of $75,015.04. Following the completion of the transaction, the insider now owns 13,056 shares of the company’s stock, valued at $987,294.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronaldo Pereira purchased 2,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $75.59 per share, for a total transaction of $151,180.00. Following the transaction, the executive vice president now directly owns 21,478 shares of the company’s stock, valued at $1,623,522.02. The disclosure for this purchase can be found here. Insiders own 0.85% of the company’s stock.
Hedge Funds Weigh In On FMC
Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in FMC by 68.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock worth $28,000 after buying an additional 93 shares during the last quarter. Quintet Private Bank Europe S.A. purchased a new position in shares of FMC during the third quarter worth approximately $33,000. Spire Wealth Management raised its stake in shares of FMC by 143.1% during the third quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 299 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of FMC in the 2nd quarter worth approximately $36,000. Finally, Orion Capital Management LLC purchased a new stake in shares of FMC in the 1st quarter valued at $40,000. 86.91% of the stock is currently owned by hedge funds and other institutional investors.
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 include 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.
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