FMC Corp hits 52-week high

Published on: 28 Dec, 2017

FMC Corporation (NYSE: FMC) shares reached a 52-week high of $96.02 on December 26 before closing at $95.54. Shares have risen 8.6 percent in the last three months, compared to the industry’s 5.8 percent growth.

According to Zacks, FMC Corp. raised its earnings outlook in November and expects adjusted earnings of $2.59 to $2.69 per share for 2017, an improvement from the previous range of $2.30 to $2.50. The company has a market cap of around $12.8 billion. Expected long-term EPS growth is 11.3 percent.

FMC Corp., a chemical manufacturing company based in Philadelphia, is gaining from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio.

Currently, the company’s Lithium unit has been boosting its shares. It is expanding its lithium hydroxide production capacity in three phases. The move is based on the growing demand for electric vehicles. FMC Corp. has executed its Phase I lithium hydroxide expansion on time and budget, achieving 9,000 metric tons of production run rate in September 2017. The Phase 2 expansion is expected to add another 12,000 metric tons of capacity. The company expects its lithium business to deliver strong earnings growth in 2017.

The acquisition of DuPont's Crop Protection business has provided a significant growth platform for FMC’s Agricultural Solutions unit. The buyout significantly increases the company’s presence in Asia and Europe.

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Austin Chiu

Email: Austin@financialinsiders.com

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