FMC (NYSE:FMC) issued its quarterly earnings data on Monday. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06, RTT News reports. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 27.12% and a net margin of 23.96%. The company’s revenue for the quarter was up 60.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. FMC updated its Q4 2018 guidance to $1.33-1.43 EPS and its Q4 guidance to $1.40-1.50 EPS.
Shares of FMC stock opened at $80.49 on Tuesday. FMC has a 12 month low of $72.73 and a 12 month high of $98.70. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 0.72 and a beta of 1.60. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.96.
A number of equities analysts recently weighed in on the company. Credit Suisse Group assumed coverage on FMC in a report on Monday. They issued an “outperform” rating and a $103.00 price target for the company. Citigroup assumed coverage on FMC in a report on Monday. They issued a “buy” rating and a $92.00 price target for the company. ValuEngine raised FMC from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research cut FMC from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Finally, Nomura upped their price target on FMC from $100.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $102.15.
In other news, COO Mark Douglas bought 4,250 shares of FMC stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $86.13 per share, with a total value of $366,052.50. Following the completion of the acquisition, the chief operating officer now directly owns 59,943 shares of the company’s stock, valued at $5,162,890.59. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dirk A. Kempthorne bought 1,173 shares of FMC stock in a transaction on Tuesday, August 28th. The shares were purchased at an average cost of $86.12 per share, with a total value of $101,018.76. Following the acquisition, the director now directly owns 35,783 shares of the company’s stock, valued at $3,081,631.96. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in shares of FMC by 33.0% in the first quarter. Principal Financial Group Inc. now owns 570,384 shares of the basic materials company’s stock valued at $43,675,000 after purchasing an additional 141,393 shares in the last quarter. Suntrust Banks Inc. grew its position in shares of FMC by 14.7% in the first quarter. Suntrust Banks Inc. now owns 5,162 shares of the basic materials company’s stock valued at $394,000 after purchasing an additional 660 shares in the last quarter. DnB Asset Management AS purchased a new stake in shares of FMC in the second quarter valued at approximately $1,407,000. IFM Investors Pty Ltd grew its position in shares of FMC by 37.6% in the second quarter. IFM Investors Pty Ltd now owns 6,842 shares of the basic materials company’s stock valued at $610,000 after purchasing an additional 1,870 shares in the last quarter. Finally, Addison Capital Co purchased a new stake in shares of FMC in the second quarter valued at approximately $2,238,000. 89.77% of the stock is owned by institutional investors and hedge funds.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
Recommended Story: Stock Selection – What is cash flow?
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.