FMC (NYSE:FMC) PT Lowered to $50.00

FMC (NYSE:FMC - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $53.00 to $50.00 in a report issued on Monday, Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 25.05% from the company's previous close.

Several other brokerages have also recently weighed in on FMC. Wolfe Research initiated coverage on FMC in a research report on Friday, March 1st. They set a "peer perform" rating for the company. Bank of America cut shares of FMC from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. Wells Fargo & Company raised their price target on shares of FMC from $65.00 to $68.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 8th. UBS Group raised shares of FMC from a "neutral" rating to a "buy" rating and increased their target price for the stock from $61.00 to $84.00 in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada raised their target price on FMC from $65.00 to $81.00 and gave the company an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $70.56.

FMC Stock Performance

NYSE:FMC traded down $0.82 during midday trading on Monday, hitting $66.71. The company's stock had a trading volume of 1,661,933 shares, compared to its average volume of 1,972,967. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.46 and a quick ratio of 1.02. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $111.95. The firm's 50 day moving average is $61.56 and its 200-day moving average is $58.06. The firm has a market cap of $8.33 billion, a P/E ratio of 7.45, a P/E/G ratio of 2.21 and a beta of 0.88.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. FMC had a net margin of 27.65% and a return on equity of 7.68%. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The business's quarterly revenue was down 31.7% compared to the same quarter last year. Equities analysts anticipate that FMC will post 3.82 earnings per share for the current fiscal year.

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer acquired 2,150 shares of FMC stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the transaction, the chief financial officer now owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of FMC by 5.3% in the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company's stock valued at $973,987,000 after purchasing an additional 768,432 shares during the period. Wellington Management Group LLP grew its stake in shares of FMC by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company's stock valued at $791,137,000 after buying an additional 1,666,096 shares during the period. Tweedy Browne Co LLC increased its holdings in shares of FMC by 105.1% during the 4th quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company's stock worth $186,745,000 after buying an additional 1,518,053 shares during the last quarter. Boston Partners raised its position in shares of FMC by 2.2% during the 4th quarter. Boston Partners now owns 2,428,010 shares of the basic materials company's stock valued at $153,030,000 after buying an additional 53,408 shares during the period. Finally, Northern Trust Corp lifted its holdings in FMC by 7.8% in the third quarter. Northern Trust Corp now owns 2,340,777 shares of the basic materials company's stock valued at $156,762,000 after acquiring an additional 169,224 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company's stock.

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.