FMC (NYSE:FMC) Upgraded by Wells Fargo & Company to "Overweight" Rating

FMC (NYSE:FMC - Get Free Report) was upgraded by Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a report released on Monday,Finviz reports. The firm currently has a $50.00 target price on the basic materials company's stock. Wells Fargo & Company's target price points to a potential upside of 21.73% from the company's current price.

FMC has been the topic of a number of other research reports. UBS Group upped their price target on shares of FMC from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of FMC from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. KeyCorp increased their price target on shares of FMC from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. The Goldman Sachs Group assumed coverage on FMC in a research report on Thursday, March 13th. They issued a "buy" rating and a $51.00 price target for the company. Finally, Mizuho upgraded FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, FMC currently has a consensus rating of "Hold" and an average price target of $50.15.

FMC Stock Down 1.3%

FMC opened at $41.07 on Monday. The company has a market capitalization of $5.13 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.24 and a beta of 0.76. The firm has a 50-day simple moving average of $39.75 and a two-hundred day simple moving average of $43.25. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69. FMC has a 52 week low of $32.83 and a 52 week high of $68.55.

FMC (NYSE:FMC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.10. The company had revenue of $791.40 million during the quarter, compared to analyst estimates of $783.70 million. FMC had a return on equity of 9.12% and a net margin of 7.97%. The firm's revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts forecast that FMC will post 3.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FMC

Hedge funds have recently made changes to their positions in the company. Financial Harvest LLC bought a new stake in shares of FMC in the first quarter valued at about $29,000. Elequin Capital LP purchased a new position in FMC during the first quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its stake in FMC by 217.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock worth $36,000 after buying an additional 511 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in FMC during the fourth quarter worth $37,000. Finally, Golden State Wealth Management LLC lifted its holdings in FMC by 66.6% during the first quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company's stock worth $42,000 after buying an additional 402 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Company Profile

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.

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