FMC (NYSE:FMC) Earns Overweight Rating from Analysts at KeyCorp

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Equities research analysts at KeyCorp began coverage on shares of FMC (NYSE:FMC) in a note issued to investors on Wednesday, The Fly reports. The firm set an “overweight” rating on the basic materials company’s stock.

Other analysts have also issued research reports about the company. Stephens reduced their target price on FMC from $130.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, March 20th. Bank of America raised shares of FMC from a “neutral” rating to a “buy” rating in a research report on Friday, March 13th. Wells Fargo & Co upped their target price on shares of FMC from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. SpareBank 1 Markets AS raised their target price on shares of FMC from to in a research report on Monday, February 10th. Finally, SunTrust Banks lifted their price target on shares of FMC from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $105.78.

NYSE FMC traded up $4.94 during trading hours on Wednesday, hitting $73.66. 1,738,533 shares of the company were exchanged, compared to its average volume of 1,086,570. The stock has a 50-day moving average price of $92.42 and a 200 day moving average price of $93.25. The company has a quick ratio of 1.12, a current ratio of 1.50 and a debt-to-equity ratio of 1.18. FMC has a 52 week low of $56.77 and a 52 week high of $108.77. The stock has a market cap of $8.31 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 0.91 and a beta of 1.41.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. FMC had a return on equity of 29.69% and a net margin of 10.36%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.69 EPS. As a group, sell-side analysts anticipate that FMC will post 6.61 earnings per share for the current year.

In related news, insider Nicholas Pfeiffer sold 4,219 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $94.65, for a total transaction of $399,328.35. Following the completion of the sale, the insider now directly owns 13,715 shares in the company, valued at approximately $1,298,124.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Pierre R. Brondeau sold 82,534 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $104.83, for a total value of $8,652,039.22. Following the sale, the chief executive officer now owns 231,756 shares of the company’s stock, valued at $24,294,981.48. The disclosure for this sale can be found here. Insiders own 0.99% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Advisor Group Inc. increased its position in FMC by 31.4% during the 4th quarter. Advisor Group Inc. now owns 10,612 shares of the basic materials company’s stock valued at $1,062,000 after buying an additional 2,537 shares in the last quarter. Nomura Holdings Inc. acquired a new position in FMC during the 3rd quarter valued at approximately $1,507,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in FMC by 70.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,735 shares of the basic materials company’s stock valued at $3,068,000 after purchasing an additional 12,721 shares in the last quarter. Clark Capital Management Group Inc. purchased a new position in shares of FMC in the fourth quarter worth $19,214,000. Finally, Crescent Grove Advisors LLC purchased a new position in shares of FMC in the fourth quarter worth $201,000. 90.21% of the stock is currently owned by institutional investors.

About FMC

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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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