FMC (NYSE:FMC) Stock Rating Lowered by Redburn Atlantic

FMC (NYSE:FMC) was downgraded by analysts at Redburn Atlantic from a “buy” rating to a “neutral” rating in a research report issued on Friday,Finviz reports. They currently have a $49.00 target price on the basic materials company’s stock. Redburn Atlantic’s price objective indicates a potential upside of 33.45% from the stock’s previous close.

A number of other brokerages also recently commented on FMC. Royal Bank of Canada downgraded FMC from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $78.00 to $47.00 in a research report on Wednesday, February 5th. Vertical Research upgraded shares of FMC to a “hold” rating in a research note on Wednesday, February 5th. KeyCorp dropped their price target on shares of FMC from $79.00 to $69.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. UBS Group cut FMC from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $38.00 in a report on Friday, February 7th. Finally, Mizuho dropped their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.62.

FMC Stock Performance

FMC opened at $36.72 on Friday. The stock has a 50-day moving average of $50.19 and a 200-day moving average of $57.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.09 and a current ratio of 1.64. FMC has a 52-week low of $33.80 and a 52-week high of $68.72. The company has a market cap of $4.58 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a return on equity of 9.67% and a net margin of 8.03%. As a group, equities research analysts forecast that FMC will post 3.53 earnings per share for the current fiscal year.

Insider Buying and Selling at FMC

In related news, EVP Michael Finian Reilly sold 2,958 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the completion of the sale, the executive vice president now owns 25,468 shares in the company, valued at $1,407,107. This represents a 10.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On FMC

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in FMC by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,291,878 shares of the basic materials company’s stock worth $743,338,000 after buying an additional 180,766 shares during the period. State Street Corp increased its holdings in FMC by 27.3% during the 3rd quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock worth $417,151,000 after purchasing an additional 1,343,615 shares in the last quarter. Invesco Ltd. raised its position in FMC by 37.8% in the 4th quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock valued at $173,008,000 after buying an additional 977,110 shares during the last quarter. Geode Capital Management LLC lifted its stake in FMC by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 2,995,691 shares of the basic materials company’s stock valued at $145,452,000 after purchasing an additional 54,017 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in FMC by 48.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock worth $101,509,000 after purchasing an additional 685,995 shares during the period. Institutional investors and hedge funds 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.