FMC Corp (NYSE:FMC) – Research analysts at SunTrust Banks cut their FY2018 EPS estimates for FMC in a note issued to investors on Monday, November 12th, according to Zacks Investment Research. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will post earnings per share of $6.01 for the year, down from their previous forecast of $6.18.

FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. 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 26.26% and a net margin of 22.28%. The firm’s quarterly revenue was up 60.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS.

Other equities research analysts have also recently issued research reports about the company. Credit Suisse Group set a $105.00 price target on FMC and gave the company a “buy” rating in a research note on Monday, December 3rd. Buckingham Research started coverage on FMC in a research note on Wednesday, November 14th. They issued a “buy” rating and a $106.00 price target for the company. Citigroup set a $96.00 price target on FMC and gave the company a “buy” rating in a research note on Sunday, November 11th. Loop Capital started coverage on FMC in a research note on Friday, November 9th. They issued a “buy” rating and a $118.00 price target for the company. Finally, ValuEngine raised FMC from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $102.08.

Shares of NYSE FMC traded down $2.45 during trading hours on Wednesday, hitting $80.08. The stock had a trading volume of 1,094,744 shares, compared to its average volume of 1,075,953. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 0.89 and a beta of 1.63. FMC has a 52 week low of $72.73 and a 52 week high of $98.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.10 and a current ratio of 1.54.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Friday, December 28th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. This is a boost from FMC’s previous quarterly dividend of $0.17. FMC’s dividend payout ratio is presently 24.35%.

FMC announced that its Board of Directors has initiated a share repurchase program on Monday, December 3rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

A number of institutional investors have recently made changes to their positions in FMC. Mirae Asset Global Investments Co. Ltd. boosted its position in FMC by 12,015.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,801,033 shares of the basic materials company’s stock worth $157,018,000 after purchasing an additional 1,786,167 shares during the period. Boston Partners boosted its position in FMC by 29.2% during the second quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock worth $376,511,000 after purchasing an additional 953,377 shares during the period. Frontier Capital Management Co. LLC boosted its position in FMC by 34.3% during the second quarter. Frontier Capital Management Co. LLC now owns 2,153,223 shares of the basic materials company’s stock worth $192,089,000 after purchasing an additional 549,475 shares during the period. Maple Rock Capital Partners Inc. boosted its position in FMC by 674.4% during the third quarter. Maple Rock Capital Partners Inc. now owns 619,541 shares of the basic materials company’s stock worth $54,012,000 after purchasing an additional 539,541 shares during the period. Finally, York Capital Management Global Advisors LLC boosted its position in FMC by 34.0% during the third quarter. York Capital Management Global Advisors LLC now owns 1,795,303 shares of the basic materials company’s stock worth $156,515,000 after purchasing an additional 455,747 shares during the period. 90.07% of the stock is owned by hedge funds and other institutional investors.

About FMC

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.

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