FMC (NYSE:FMC) Stock Price Up 4.9% – Time to Buy?

FMC Corporation (NYSE:FMC)’s stock price was up 4.9% during trading on Tuesday. The stock traded as high as $5.67 and last traded at $5.6770. Approximately 1,978,360 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 4,434,812 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FMC shares. Royal Bank Of Canada reduced their price target on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Monday, November 2nd. KeyCorp initiated coverage on FMC in a research report on Friday, September 11th. They set an “overweight” rating and a $16.00 price objective on the stock. Mizuho set a $10.00 target price on FMC in a report on Thursday, October 15th. Wall Street Zen cut FMC from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BMO Capital Markets dropped their price target on FMC from $11.00 to $7.50 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, FMC presently has a consensus rating of “Reduce” and a consensus price target of $10.71.

FMC Price Performance

The company has a debt-to-equity ratio of 416.31, a current ratio of 1.66 and a quick ratio of 1.18. The firm’s 50 day moving average is $8.52 and its 200 day moving average is $12.18. The firm has a market cap of $868.80 million, a P/E ratio of -0.17 and a beta of 0.50.

FMC (NYSE:FMC) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). FMC had a negative return on equity of 30.77% and a negative net margin of 151.18%. The business had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $487.63 million. During the same quarter last year, the company posted $0.89 EPS. FMC’s revenue for the quarter was down 80.5% compared to the same quarter last year. As a group, analysts anticipate that FMC Corporation will post -3.71 earnings per share for the current year.

Insider Buying and Selling at FMC

In other news, VP Jacqueline Scanlan sold 4,930 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $6.55, for a total transaction of $32,291.50. Following the completion of the sale, the vice president owned 58,628 shares of the company’s stock, valued at $384,013.40. This represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On FMC

Hedge funds and other institutional investors have recently modified their holdings of the stock. King Luther Capital Management Corp grew its stake in shares of FMC by 40.5% in the 3rd quarter. King Luther Capital Management Corp now owns 1,497,932 shares of the basic materials company’s stock worth $13,362,000 after buying an additional 431,640 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of FMC during the 2nd quarter worth approximately $8,498,000. Public Sector Pension Investment Board lifted its position in shares of FMC by 97.3% during the third quarter. Public Sector Pension Investment Board now owns 847,614 shares of the basic materials company’s stock worth $7,149,000 after purchasing an additional 417,981 shares during the last quarter. AXQ Capital LP boosted its position in FMC by 109.9% in the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after buying an additional 191,945 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of FMC in the third quarter valued at approximately $3,460,000. Institutional investors own 91.86% of the company’s stock.

FMC Company Profile

FMC Corporation is an agricultural sciences company that develops and sells crop protection products for farmers and other agricultural customers. Its portfolio includes insecticides, herbicides and fungicides designed to help manage pests, weeds and crop diseases. The company also offers biological solutions and products intended to support plant health. Its products are used across a range of crops and farming systems, and FMC serves agricultural markets around the world. FMC traces its origins to 1883, when it was established as the Bean Spray Pump Company.