KeyCorp Lowers FMC (NYSE:FMC) Price Target to $69.00

FMC (NYSE:FMC) had its target price lowered by analysts at KeyCorp from $79.00 to $69.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price would suggest a potential upside of 42.18% from the company’s previous close.

Other equities analysts have also issued research reports about the company. UBS Group cut their price target on FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada raised their target price 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. Mizuho lifted their price objective on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Citigroup decreased their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, FMC currently has a consensus rating of “Hold” and an average target price of $64.92.

FMC Stock Performance

Shares of FMC stock opened at $48.53 on Thursday. FMC has a fifty-two week low of $47.71 and a fifty-two week high of $68.72. The stock’s 50-day moving average is $56.04 and its two-hundred day moving average is $59.30. 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 firm has a market cap of $6.06 billion, a P/E ratio of 4.18, a PEG ratio of 1.48 and a beta of 0.80.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion for 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%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Analysts predict that FMC will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling at FMC

In related news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.67, for a total value 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. The trade was a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of FMC

Large investors have recently bought and sold shares of the company. Millburn Ridgefield Corp increased its stake 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 acquiring an additional 324 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in FMC by 90.8% in the third 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 holdings in shares of FMC by 250.6% during the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after buying an additional 396 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in FMC in the 3rd quarter worth about $51,000. Finally, Brooklyn Investment Group purchased a new stake in FMC during the 3rd quarter valued at $52,000. 91.86% of the stock is owned by hedge funds and other 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.