FMC Corporation (NYSE:FMC) announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01, Bloomberg Earnings reports. The company had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. FMC Corporation updated its FY17 guidance to $2.30-2.50 EPS.
Shares of FMC Corporation (FMC) traded down 0.18% on Friday, hitting $82.63. 885,445 shares of the stock were exchanged. The company has a 50 day moving average of $78.74 and a 200 day moving average of $70.89. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 245.19 and a beta of 1.62. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $85.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be given a $0.165 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.80%. FMC Corporation’s dividend payout ratio (DPR) is currently 188.58%.
FMC has been the topic of several research reports. TheStreet raised shares of FMC Corporation from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Zacks Investment Research raised shares of FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of FMC Corporation in a report on Thursday, July 6th. Credit Suisse Group set a $85.00 price target on shares of FMC Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 price target on shares of FMC Corporation in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $83.40.
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In other news, insider Mark Douglas sold 12,697 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $75.82, for a total value of $962,686.54. Following the transaction, the insider now owns 73,690 shares in the company, valued at $5,587,175.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. E&G Advisors LP purchased a new position in shares of FMC Corporation during the first quarter valued at about $348,000. Augustine Asset Management Inc. boosted its position in shares of FMC Corporation by 9.5% in the first quarter. Augustine Asset Management Inc. now owns 57,505 shares of the basic materials company’s stock valued at $4,001,000 after buying an additional 4,970 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of FMC Corporation by 5.6% in the first quarter. Gulf International Bank UK Ltd now owns 40,725 shares of the basic materials company’s stock valued at $2,834,000 after buying an additional 2,170 shares in the last quarter. Sheets Smith Wealth Management purchased a new position in shares of FMC Corporation during the first quarter valued at about $899,000. Finally, Creative Planning boosted its position in shares of FMC Corporation by 4.1% in the first quarter. Creative Planning now owns 7,869 shares of the basic materials company’s stock valued at $548,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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