FMC Co. (NYSE:FMC) to Issue Quarterly Dividend of $0.58

FMC Co. (NYSE:FMC) declared a quarterly dividend on Friday, December 13th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.58 per share by the basic materials company on Thursday, January 16th. This represents a $2.32 annualized dividend and a dividend yield of 4.26%.

FMC has increased its dividend by an average of 8.8% per year over the last three years. FMC has a payout ratio of 49.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FMC to earn $4.68 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 49.6%.

FMC Stock Performance

Shares of NYSE FMC opened at $54.50 on Friday. FMC has a 12-month low of $50.03 and a 12-month high of $68.72. The company has a market cap of $6.80 billion, a PE ratio of 4.69, a P/E/G ratio of 1.48 and a beta of 0.80. The stock has a 50 day simple moving average of $60.04 and a 200-day simple moving average of $60.25. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC) last announced its quarterly 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. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, equities research analysts forecast that FMC will post 3.35 EPS for the current year.

Insider Buying and Selling

In related news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the transaction, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on FMC shares. Royal Bank of Canada raised their target price on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Mizuho raised 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 began coverage on FMC in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, FMC currently has an average rating of “Hold” and an average target price of $68.00.

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.