FMC (NYSE:FMC) Price Target Raised to $61.00 at Citigroup

FMC (NYSE:FMC - Get Free Report) had its target price increased by stock analysts at Citigroup from $55.00 to $61.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. Citigroup's price target suggests a potential upside of 7.80% from the stock's previous close.

A number of other equities analysts have also commented on FMC. Mizuho lowered their price objective on FMC from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Barclays raised FMC from an "equal weight" rating to an "overweight" rating and set a $65.00 price target for the company in a research note on Tuesday, January 21st. Royal Bank of Canada increased their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. KeyCorp decreased their target price on shares of FMC from $79.00 to $69.00 and set an "overweight" rating on the stock in a report on Thursday, January 2nd. Finally, Bank of America raised shares of FMC from an "underperform" rating to a "neutral" rating and cut their price target for the stock from $63.00 to $61.00 in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $63.75.

FMC Stock Performance

Shares of FMC stock traded up $0.34 during trading on Wednesday, reaching $56.59. The company's stock had a trading volume of 229,524 shares, compared to its average volume of 1,360,527. FMC has a 52 week low of $47.71 and a 52 week high of $68.72. The firm has a market cap of $7.06 billion, a PE ratio of 4.87, a P/E/G ratio of 1.15 and a beta of 0.83. The business's 50-day moving average price is $53.78 and its 200-day moving average price is $58.99. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC - Get Free Report) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business's revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that FMC will post 3.34 earnings per share for the current year.

Insider Activity

In other FMC news, EVP Michael Finian Reilly sold 2,958 shares of FMC stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total transaction of $163,429.50. Following the transaction, the executive vice president now directly owns 25,468 shares of the company's stock, valued at approximately $1,407,107. The trade was a 10.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,491 shares of company stock valued at $433,898. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of FMC

Institutional investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. bought a new position in shares of FMC in the 3rd quarter worth about $2,265,000. Inspire Trust Co. N.A. grew its stake in FMC by 18.7% during the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company's stock worth $3,970,000 after purchasing an additional 9,500 shares during the period. Reinhart Partners LLC. increased its holdings in FMC by 20.9% in the fourth quarter. Reinhart Partners LLC. now owns 227,328 shares of the basic materials company's stock worth $11,050,000 after purchasing an additional 39,230 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of FMC by 27.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company's stock worth $2,867,000 after buying an additional 9,449 shares in the last quarter. Finally, First National Bank of Omaha grew its position in shares of FMC by 85.7% during the 3rd quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company's stock worth $2,238,000 after buying an additional 15,662 shares during the period. 91.86% of the stock is currently 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.

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