FMC (NYSE:FMC) Given New $6.50 Price Target at UBS Group

FMC (NYSE:FMC) had its price objective reduced by analysts at UBS Group from $10.00 to $6.50 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. UBS Group‘s price target would suggest a potential upside of 4.10% from the stock’s previous close.

A number of other brokerages also recently commented on FMC. Jefferies Financial Group assumed coverage on shares of FMC in a research note on Monday. They set a “hold” rating and a $6.00 target price on the stock. Wall Street Zen raised shares of FMC from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Seaport Research Partners set a $21.00 price target on shares of FMC in a research note on Tuesday, August 4th. The Goldman Sachs Group restated a “buy” rating and set a $18.00 price target on shares of FMC in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. reduced their price target 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. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $10.64.

FMC Trading Down 3.9%

NYSE:FMC traded down $0.26 during trading hours on Tuesday, hitting $6.24. The company had a trading volume of 1,969,067 shares, compared to its average volume of 4,382,723. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38. The company has a 50-day moving average of $9.03 and a 200 day moving average of $12.42. The company has a market cap of $781.92 million, a P/E ratio of -0.19 and a beta of 0.45. FMC has a 1 year low of $4.37 and a 1 year high of $18.29.

FMC (NYSE:FMC) last issued its earnings results on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%. The company had revenue of $105.90 million during the quarter, compared to analyst estimates of $487.63 million. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue was down 80.5% compared to the same quarter last year. Sell-side analysts expect that FMC will post -3.58 earnings per share for the current year.

Institutional Trading of FMC

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in FMC in the 2nd quarter valued at about $8,498,000. AXQ Capital LP boosted its stake in FMC by 109.9% during the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock worth $4,217,000 after buying an additional 191,945 shares during the period. Wellington Management Group LLP increased its position in shares of FMC by 142.4% during the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock valued at $2,704,000 after acquiring an additional 138,098 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of FMC during the first quarter valued at about $1,401,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of FMC during the second quarter valued at about $1,175,000. 91.86% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile

FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company’s products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.