FMC (NYSE:FMC) Hits New 12-Month Low – Here’s What Happened

Shares of FMC Corporation (NYSE:FMC) reached a new 52-week low during trading on Thursday. The stock traded as low as $9.71 and last traded at $9.7650, with a volume of 1483734 shares traded. The stock had previously closed at $9.90.

Analyst Ratings Changes

Several research analysts have weighed in on FMC shares. Citigroup reissued a “buy” rating on shares of FMC in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FMC in a research report on Wednesday, August 26th. Royal Bank Of Canada dropped their target price on FMC from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Seaport Research Partners set a $21.00 target price on FMC in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, FMC presently has a consensus rating of “Hold” and a consensus target price of $14.38.

FMC Stock Up 0.1%

The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48. The firm’s 50-day moving average is $11.04 and its 200 day moving average is $12.76. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -0.44 and a beta of 0.41.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The company had revenue of $841.40 million for the quarter, compared to the consensus estimate of $895.14 million. During the same quarter last year, the firm posted $0.69 earnings per share. FMC’s revenue was down 17.5% on a year-over-year basis. Sell-side analysts anticipate that FMC Corporation will post 1.27 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.3%. FMC’s dividend payout ratio (DPR) is presently -1.45%.

Institutional Investors Weigh In On FMC

A number of institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in FMC by 379.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 65,414 shares of the basic materials company’s stock worth $752,000 after purchasing an additional 51,768 shares in the last quarter. Tidal Investments LLC raised its holdings in FMC by 31.1% in the second quarter. Tidal Investments LLC now owns 25,562 shares of the basic materials company’s stock valued at $294,000 after buying an additional 6,061 shares during the period. WINTON GROUP Ltd acquired a new position in FMC during the second quarter valued at approximately $171,000. IFP Advisors Inc lifted its position in FMC by 99.0% during 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. Finally, Nykredit A S acquired a new position in FMC during the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

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.