KeyCorp Boosts FMC (NYSE:FMC) Price Target to $79.00

FMC (NYSE:FMC) had its price objective lifted by KeyCorp from $76.00 to $79.00 in a research note released on Tuesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

Several other research analysts have also commented on the stock. Loop Capital raised their price objective on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, March 19th. Roth Mkm started coverage on shares of FMC in a research note on Thursday, January 4th. They issued a buy rating and a $74.00 price objective for the company. Bank of America lowered shares of FMC from a neutral rating to an underperform rating and lowered their price objective for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. Mizuho decreased their price target on shares of FMC from $59.00 to $55.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Finally, BNP Paribas downgraded shares of FMC from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, FMC currently has a consensus rating of Hold and a consensus target price of $71.75.

FMC Price Performance

Shares of FMC opened at $61.55 on Tuesday. FMC has a 1-year low of $49.49 and a 1-year high of $125.20. The stock has a market cap of $7.68 billion, a PE ratio of 5.85, a P/E/G ratio of 1.94 and a beta of 0.87. The firm has a 50-day simple moving average of $58.70 and a two-hundred day simple moving average of $58.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01.

FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). FMC had a net margin of 29.45% and a return on equity of 12.98%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business posted $2.37 EPS. As a group, analysts forecast that FMC will post 3.88 EPS for the current year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.32 annualized dividend and a dividend yield of 3.77%. FMC’s dividend payout ratio is presently 22.03%.

Insider Activity

In other FMC news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $59.22 per share, with a total value of $127,323.00. Following the acquisition, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of institutional investors have recently modified their holdings of FMC. Raymond James Financial Services Advisors Inc. increased its holdings in shares of FMC by 9.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,326 shares of the basic materials company’s stock valued at $1,359,000 after acquiring an additional 908 shares during the period. Acadian Asset Management LLC acquired a new position in shares of FMC in the 1st quarter valued at $191,000. Cibc World Market Inc. acquired a new position in FMC in the 1st quarter valued at $224,000. Prudential PLC acquired a new position in FMC in the 1st quarter valued at $383,000. Finally, National Pension Service increased its stake in FMC by 872,245.0% in the 1st quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock valued at $22,955,000 after buying an additional 174,449 shares during the period. 91.86% of the stock is owned by institutional investors and hedge funds.

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.