FMC (NYSE:FMC) Stock Price Down 4.6% – Should You Sell?

FMC Corporation (NYSE:FMC)’s stock price traded down 4.6% during mid-day trading on Friday. The company traded as low as $8.64 and last traded at $8.5060. Approximately 401,397 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 3,882,477 shares. The stock had previously closed at $8.92.

Analyst Ratings Changes

A number of research firms have recently commented on FMC. UBS Group dropped their price target on FMC from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of FMC in a research note on Wednesday, August 26th. JPMorgan Chase & Co. cut their price target on shares of FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Citigroup reaffirmed a “buy” rating on shares of FMC in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of FMC in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.85.

FMC Price Performance

The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -0.38 and a beta of 0.45. The company’s fifty day moving average is $10.62 and its 200 day moving average is $12.43. 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 issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. During the same period in the previous year, the business earned $0.69 EPS. The company’s revenue was down 17.5% compared to the same quarter last year. On average, equities research analysts predict that FMC Corporation will post 1.25 EPS for the current year.

FMC Announces Dividend

The business 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, September 30th. FMC’s dividend payout ratio is presently -1.45%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of FMC by 142.4% in the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock valued at $2,704,000 after buying an additional 138,098 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in FMC during the second quarter worth $1,175,000. Bank of New York Mellon Corp acquired a new position in FMC during the second quarter worth $8,498,000. AXQ Capital LP raised its position 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 acquiring an additional 191,945 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in FMC by 379.4% during the second quarter. Sequoia Financial Advisors LLC now owns 65,414 shares of the basic materials company’s stock worth $752,000 after acquiring an additional 51,768 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors.

About FMC

FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops, manufactures and markets crop protection products for farmers and other agricultural professionals. Its portfolio includes herbicides, insecticides and fungicides used to help protect crops from weeds, insects and diseases.

The company also develops biological and other crop health solutions, supported by research in areas such as plant science, chemistry and biotechnology. FMC’s products are used across a range of crops and growing conditions, and the company serves agricultural markets in North America, Latin America, Europe, Asia and other regions worldwide.

FMC traces its origins to 1883 and has evolved through acquisitions and investments in agricultural technology into a focused crop protection company.