FMC (NYSE:FMC) Shares Down 5% – Here’s Why

FMC Corporation (NYSE:FMC)’s stock price was down 5% on Thursday . The company traded as low as $10.16 and last traded at $10.2650. Approximately 2,532,935 shares traded hands during trading, a decline of 33% from the average session volume of 3,788,218 shares. The stock had previously closed at $10.80.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of FMC in a research note on Wednesday, August 26th. Zacks Research cut FMC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. lowered their price objective on shares of FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Mizuho set a $16.00 target price on shares of FMC in a report on Tuesday, July 14th. Finally, KeyCorp started coverage on shares of FMC in a research note on Friday, September 11th. They set an “overweight” rating and a $16.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.38.

FMC Price Performance

The stock has a fifty day moving average of $11.15 and a two-hundred day moving average of $12.90. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -0.46 and a beta of 0.41. The company has a quick ratio of 1.48, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC) last released its earnings results on Wednesday, July 29th. The basic materials company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $841.40 million during the quarter, compared to the consensus estimate of $895.14 million. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%.FMC’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. On average, equities research analysts anticipate that FMC Corporation will post 1.27 earnings per share for the current year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.2%. FMC’s payout ratio is currently -1.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its holdings in FMC by 99.0% in the second quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company’s stock valued at $31,000 after buying an additional 1,356 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of FMC by 3,642.9% during the 1st quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 1,785 shares in the last quarter. Essential Partners LLC acquired a new stake in shares of FMC in the 1st quarter worth approximately $43,000. Nykredit A S acquired a new stake in shares of FMC in the 2nd quarter worth approximately $55,000. Finally, Parallel Advisors LLC increased its stake in FMC by 297.2% in the 1st quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 4,687 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

About FMC

FMC Corporation is an agricultural sciences company that develops, manufactures and markets crop protection products. Its portfolio includes insecticides, herbicides, fungicides and other solutions designed to help farmers manage weeds, insects and plant diseases and improve crop productivity.

The company serves agricultural customers through a global commercial and research network, providing products for major crops such as cereals, corn, cotton, fruits, vegetables, rice and soybeans.