FMC (NYSE:FMC) Upgraded by Bank of America to Neutral Rating

FMC (NYSE:FMC - Get Free Report) was upgraded by investment analysts at Bank of America from an "underperform" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $61.00 target price on the basic materials company's stock, down from their previous target price of $63.00. Bank of America's price target points to a potential upside of 13.85% from the stock's current price.

A number of other research firms have also weighed in on FMC. Royal Bank of Canada raised 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. Mizuho cut their target price on FMC from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Citigroup decreased their price target on FMC from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. KeyCorp cut their price objective on FMC from $79.00 to $69.00 and set an "overweight" rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group decreased their target price on FMC from $75.00 to $66.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Eleven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $63.25.

FMC Stock Up 3.0 %

Shares of FMC traded up $1.54 on Tuesday, reaching $53.58. The company's stock had a trading volume of 1,896,989 shares, compared to its average volume of 1,611,999. FMC has a twelve month low of $47.71 and a twelve month high of $68.72. The stock has a market capitalization of $6.69 billion, a PE ratio of 4.61, a PEG ratio of 1.41 and a beta of 0.83. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $54.51 and a 200-day moving average of $59.10.

FMC (NYSE:FMC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts predict that FMC will post 3.35 EPS for the current year.

Insider Activity at FMC

In related news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction dated 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 owns 28,649 shares of the company's stock, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FMC

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in FMC by 4.4% in the 2nd quarter. American Century Companies Inc. now owns 37,829 shares of the basic materials company's stock worth $2,177,000 after acquiring an additional 1,589 shares during the last quarter. Federated Hermes Inc. purchased a new stake in FMC in the second quarter valued at approximately $13,492,000. Dimensional Fund Advisors LP lifted its position in FMC by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company's stock valued at $41,543,000 after purchasing an additional 64,055 shares during the last quarter. WealthPLAN Partners LLC grew its stake in FMC by 22.4% in the 2nd quarter. WealthPLAN Partners LLC now owns 30,904 shares of the basic materials company's stock worth $1,779,000 after buying an additional 5,657 shares in the last quarter. Finally, Argent Trust Co bought a new position in shares of FMC in the 2nd quarter worth $246,000. 91.86% of the stock is currently owned by 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.