FMC (NYSE:FMC) Given New $46.00 Price Target at Morgan Stanley

FMC (NYSE:FMC) had its price target dropped by equities researchers at Morgan Stanley from $70.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s price objective indicates a potential downside of 14.81% from the stock’s current price.

FMC has been the topic of several other reports. Mizuho reduced their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Barclays raised shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 price target for the company in a report on Tuesday, January 21st. Bank of America upgraded shares of FMC from an “underperform” rating to a “neutral” rating and dropped their price objective for the stock from $63.00 to $61.00 in a research note on Tuesday, January 14th. KeyCorp cut their target price on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, UBS Group lowered their target price on FMC from $75.00 to $66.00 and set a “buy” rating for the company in a report on Friday, December 20th. Twelve 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.77.

FMC Trading Down 1.7 %

NYSE FMC opened at $54.00 on Wednesday. The company’s fifty day moving average price is $53.43 and its two-hundred day moving average price is $58.85. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. FMC has a 12 month low of $47.71 and a 12 month high of $68.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a return on equity of 7.68% and a net margin of 34.93%. As a group, research analysts predict that FMC will post 3.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FMC news, EVP Michael Finian Reilly sold 2,958 shares of the company’s stock in a transaction dated 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 directly owns 25,468 shares of the company’s stock, valued at approximately $1,407,107. This represents a 10.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the transaction, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,491 shares of company stock worth $433,898 over the last ninety days. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On FMC

A number of institutional investors and hedge funds have recently modified their holdings of FMC. Golden State Wealth Management LLC acquired a new stake in shares of FMC during the fourth quarter valued at approximately $29,000. Millburn Ridgefield Corp grew its position in FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 324 shares in the last quarter. First Horizon Advisors Inc. raised its stake in FMC by 90.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 246 shares during the period. Mather Group LLC. lifted its holdings in shares of FMC by 250.6% in the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 396 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of FMC by 65.3% in the fourth quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock worth $47,000 after buying an additional 379 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.