Stock Mover of the Day: What’s Propelling FMC Corp to Reach 52-Week High?

Stock Mover of the Day: What's Propelling FMC Corp to Reach 52 Week High?

The stock of FMC Corp (NYSE:FMC) hit a new 52-week high and has $57.66 target or 4.00% above today’s $55.44 share price. The 8 months bullish chart indicates low risk for the $7.40 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $57.66 price target is reached, the company will be worth $296.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 328,311 shares traded hands. FMC Corp (NYSE:FMC) has risen 29.15% since April 25, 2016 and is uptrending. It has outperformed by 23.14% the S&P500.

Analysts await FMC Corp (NYSE:FMC) to report earnings on February, 8. They expect $0.88 EPS, up 14.29% or $0.11 from last year’s $0.77 per share. FMC’s profit will be $117.46M for 15.75 P/E if the $0.88 EPS becomes a reality. After $0.67 actual EPS reported by FMC Corp for the previous quarter, Wall Street now forecasts 31.34% EPS growth.

FMC Corp (NYSE:FMC) Ratings Coverage

Out of 19 analysts covering FMC Tech (NYSE:FMC), 9 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 47% are positive. FMC Tech has been the topic of 31 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Societe Generale on Friday, January 8. The firm has “Buy” rating given on Monday, October 5 by Seaport Global Securities. The stock of FMC Corp (NYSE:FMC) earned “Neutral” rating by Longbow on Friday, August 28. The stock of FMC Corp (NYSE:FMC) has “Neutral” rating given on Wednesday, October 14 by Macquarie Research. The rating was downgraded by Piper Jaffray on Monday, January 4 to “Underweight”. The rating was maintained by Cowen & Co with “Outperform” on Thursday, July 23. The stock of FMC Corp (NYSE:FMC) earned “Hold” rating by Deutsche Bank on Friday, July 31. The firm earned “Neutral” rating on Friday, July 15 by Citigroup. The stock has “Buy” rating given by Jefferies on Wednesday, September 23. Credit Suisse upgraded FMC Corp (NYSE:FMC) on Friday, September 4 to “Neutral” rating.

According to Zacks Investment Research, “FMC Corporation is one of the world’s leading producers of machinery and chemicals for industry and agriculture. The Company operates in three distinct business segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. Agricultural Products provides crop protection and pest control products. Specialty Chemicals includes food ingredients that are used to enhance structure, texture and taste. Industrial Chemicals encompasses a wide range of inorganic materials.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in Q2 2016. Its down 0.33, from 1.44 in 2016Q1. The ratio worsened, as 22 funds sold all FMC Corp shares owned while 111 reduced positions. 66 funds bought stakes while 125 increased positions. They now own 119.58 million shares or 2.17% less from 122.23 million shares in 2016Q1.
Sumitomo Mitsui Asset Communications accumulated 0.01% or 10,161 shares. Ing Groep Nv holds 0% or 4,719 shares in its portfolio. Columbia L L C Invest last reported 0.1% of its portfolio in the stock. Blackrock Japan Limited last reported 157,433 shares in the company. Moors & Cabot accumulated 12,590 shares or 0.1% of the stock. Guggenheim Ltd Llc holds 489,869 shares or 0.07% of its portfolio. The New Jersey-based State Of New Jersey Common Pension Fund D has invested 0.04% in FMC Corp (NYSE:FMC). Moreover, Fairpointe Capital Ltd Llc has 3.23% invested in FMC Corp (NYSE:FMC) for 3.08 million shares. Carroll Assoc last reported 1,057 shares in the company. Kanawha Cap Mgmt Ltd Liability Corporation accumulated 0.16% or 20,775 shares. Amalgamated Comml Bank holds 0.03% of its portfolio in FMC Corp (NYSE:FMC) for 10,819 shares. Paloma Prns holds 0.02% of its portfolio in FMC Corp (NYSE:FMC) for 41,681 shares. Jpmorgan Chase has 0% invested in the company for 152,234 shares. Da Davidson last reported 22,847 shares in the company. Mufg Americas Holding has 0% invested in the company for 2,400 shares.

Insider Transactions: Since June 13, 2016, the stock had 0 insider buys, and 1 insider sale for $700,911 net activity. $700,911 worth of FMC Corp (NYSE:FMC) was sold by UTECHT ANDREA E.

More notable recent FMC Corp (NYSE:FMC) news were published by: Fool.com which released: “Lithium Stock Investors: FMC Corp. Kicked Off the Industry’s Q3 Earnings …” on November 10, 2016, also Prnewswire.com with their article: “FMC Corporation and BASF Announce Agreement to Bring Next Generation of Crop …” published on November 07, 2016, Bna.com published: “FMC Corp. Sued Over 401(k) Stake in Sequoia Fund, Valeant” on November 22, 2016. More interesting news about FMC Corp (NYSE:FMC) were released by: Pionline.com and their article: “FMC Corp. sued over DC plan investment in Sequoia Fund” published on November 23, 2016 as well as Prnewswire.com‘s news article titled: “FMC Corporation Signs Long-term Lithium Carbonate Supply Agreement with …” with publication date: October 31, 2016.

FMC Company Profile

FMC Corporation, incorporated on August 10, 1928, is a diversified chemical firm serving agricultural, consumer and industrial markets. The Firm operates in three business divisions: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals. The FMC Health and Nutrition segment focuses on nutritional ingredients, health excipients and functional health ingredients. The Company’s FMC Lithium segment makes lithium for use in a range of lithium products.

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