FMC (NYSE:FMC) Price Target Increased to $68.00 by Analysts at Wells Fargo & Company

FMC (NYSE:FMC) had its price objective boosted by stock analysts at Wells Fargo & Company from $65.00 to $68.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.23% from the stock’s previous close.

Several other analysts also recently commented on the stock. BMO Capital Markets decreased their target price on shares of FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada decreased their price objective on shares of FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Loop Capital raised their target price on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, March 19th. Bank of America downgraded FMC from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $60.00 to $57.00 in a research note on Tuesday, January 16th. Finally, KeyCorp raised their price objective on FMC from $76.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.56.

FMC Stock Down 1.3 %

Shares of FMC stock traded down $0.88 on Wednesday, hitting $65.87. 935,365 shares of the company traded hands, compared to its average volume of 1,969,905. FMC has a 12-month low of $49.49 and a 12-month high of $112.10. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market cap of $8.22 billion, a PE ratio of 6.24, a PEG ratio of 1.99 and a beta of 0.88. The company has a 50-day moving average price of $60.71 and a 200 day moving average price of $57.79.

FMC (NYSE:FMC) last issued its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. The business’s revenue was down 31.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS. Sell-side analysts predict that FMC will post 3.88 earnings per share for the current year.

Insider Transactions at FMC

In other news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the purchase, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On FMC

A number of hedge funds and other institutional investors have recently made changes to their positions in FMC. Riverview Trust Co acquired a new stake in shares of FMC in the 1st quarter valued at $27,000. CVA Family Office LLC acquired a new stake in shares of FMC during the fourth quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new position in shares of FMC in the 4th quarter worth approximately $31,000. Quintet Private Bank Europe S.A. bought a new stake in FMC during the 3rd quarter worth approximately $33,000. Finally, Spire Wealth Management increased its holdings in FMC by 143.1% during the 3rd quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 299 shares in the last quarter. 91.86% of the stock is owned by institutional investors.

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.