FMC Co. (NYSE:FMC – Get Rating) – Research analysts at KeyCorp dropped their Q2 2023 EPS estimates for FMC in a report issued on Tuesday, May 2nd. KeyCorp analyst A. Yefremov now forecasts that the basic materials company will post earnings of $1.76 per share for the quarter, down from their previous estimate of $2.01. KeyCorp has a “Overweight” rating and a $144.00 price target on the stock. The consensus estimate for FMC’s current full-year earnings is $7.94 per share. KeyCorp also issued estimates for FMC’s Q4 2023 earnings at $2.43 EPS, FY2023 earnings at $7.74 EPS and FY2024 earnings at $8.55 EPS.
FMC (NYSE:FMC – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The basic materials company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.04. FMC had a net margin of 12.69% and a return on equity of 29.29%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue was down .7% on a year-over-year basis.
FMC Price Performance
Shares of FMC opened at $111.89 on Thursday. The firm’s 50-day simple moving average is $121.69 and its two-hundred day simple moving average is $124.63. FMC has a fifty-two week low of $98.24 and a fifty-two week high of $134.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.43. The stock has a market cap of $14.00 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82.
Institutional Trading of FMC
Institutional investors have recently added to or reduced their stakes in the company. General Partner Inc. acquired a new stake in FMC during the fourth quarter worth approximately $26,000. Neo Ivy Capital Management lifted its holdings in FMC by 533.3% during the fourth quarter. Neo Ivy Capital Management now owns 228 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 192 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of FMC by 68.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after buying an additional 93 shares during the period. TCI Wealth Advisors Inc. raised its stake in shares of FMC by 269.0% in the third quarter. TCI Wealth Advisors Inc. now owns 310 shares of the basic materials company’s stock valued at $33,000 after buying an additional 226 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of FMC in the first quarter valued at $33,000. 88.28% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, insider Nicholas Pfeiffer sold 4,421 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $129.70, for a total value of $573,403.70. Following the completion of the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at $1,564,700.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Nicholas Pfeiffer sold 4,421 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $129.70, for a total transaction of $573,403.70. Following the sale, the insider now owns 12,064 shares in the company, valued at $1,564,700.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Douglas bought 4,121 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $115.53 per share, for a total transaction of $476,099.13. Following the transaction, the chief executive officer now owns 41,672 shares in the company, valued at approximately $4,814,366.16. The disclosure for this purchase can be found here. Insiders sold 11,376 shares of company stock valued at $1,465,016 over the last 90 days. 0.85% of the stock is currently owned by company insiders.
FMC Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Friday, June 30th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, June 29th. This represents a $2.32 dividend on an annualized basis and a yield of 2.07%. FMC’s payout ratio is currently 39.86%.
About FMC
FMC Corp. is an agricultural sciences company, which engages in the provision of solutions to growers and development of pipeline in crop protection, plant health, precision agriculture, and professional pest, and turf management. It offers insect control products under the Rynaxypyr and Cyazypyr brands, herbicides under the Authority, Boral, Centium, Command, and Gamit brands, insecticides under the Talstar and Hero brands, flutriafol-based fungicides, and bionematicides under the Quartzo and Presence brands.
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