Citigroup Cuts FMC (NYSE:FMC) Price Target to $55.00

FMC (NYSE:FMC - Free Report) had its price objective reduced by Citigroup from $70.00 to $55.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the basic materials company's stock.

Several other research firms have also weighed in on FMC. Mizuho boosted their target price on FMC from $64.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price target on shares of FMC from $78.00 to $81.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $67.08.

FMC Stock Down 5.0 %

FMC traded down $2.59 during midday trading on Wednesday, hitting $49.11. 1,872,368 shares of the company's stock traded hands, compared to its average volume of 1,649,558. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The company has a market cap of $6.13 billion, a PE ratio of 4.23, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. FMC has a one year low of $49.05 and a one year high of $68.72. The stock's fifty day simple moving average is $59.15 and its 200-day simple moving average is $59.96.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. FMC's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, equities analysts anticipate that FMC will post 3.35 earnings per share for the current fiscal year.

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Tuesday, December 31st. FMC's dividend payout ratio is presently 19.97%.

Insider Buying and Selling

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares of the company's stock, valued at approximately $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently modified their holdings of FMC. Millburn Ridgefield Corp boosted its position in FMC by 186.2% in the third quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company's stock valued at $33,000 after buying an additional 324 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of FMC by 90.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company's stock worth $34,000 after acquiring an additional 246 shares in the last quarter. Mather Group LLC. grew its position in FMC by 250.6% during the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company's stock worth $37,000 after acquiring an additional 396 shares during the last quarter. UMB Bank n.a. increased its holdings in FMC by 56.9% during the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new position in FMC in the 3rd quarter valued at $51,000. 91.86% of the stock is owned by institutional investors and hedge funds.

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.