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

FMC Corporation (NYSE:FMC)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $9.07 and last traded at $9.0850, with a volume of 3152217 shares changing hands. The stock had previously closed at $9.21.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FMC shares. Royal Bank Of Canada dropped their price target on FMC from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Monday, August 3rd. KeyCorp started coverage on FMC in a research note on Friday, September 11th. They issued an “overweight” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. lowered their target price 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of FMC in a research report on Wednesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.38.

FMC Trading Down 4.4%

The company has a 50 day simple moving average of $10.84 and a 200 day simple moving average of $12.61. 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 stock has a market capitalization of $1.07 billion, a PE ratio of -0.39 and a beta of 0.45.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $841.40 million for 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%.The company’s revenue was down 17.5% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. Analysts predict that FMC Corporation will post 1.25 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.8%. FMC’s dividend payout ratio is presently -1.45%.

Institutional Trading of FMC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC increased its stake in shares of FMC by 3,642.9% during the first 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 during the period. Essential Partners LLC acquired a new stake in FMC in the first quarter valued at about $43,000. IFP Advisors Inc lifted its position 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 purchasing an additional 1,356 shares during the period. Nykredit A S purchased a new stake in FMC in the 2nd quarter valued at approximately $55,000. Finally, Parallel Advisors LLC boosted its holdings 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. Hedge funds and other institutional investors own 91.86% of the company’s stock.

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.