FMC (NYSE:FMC) Stock Jumps 4.9% – Still a Buy?

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

Analyst Ratings Changes

FMC has been the subject of several analyst reports. Royal Bank Of Canada decreased their price objective on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating for the company in a research note on Monday, November 2nd. Morgan Stanley cut their target price on FMC from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, November 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of FMC in a report on Friday, July 31st. BMO Capital Markets decreased their price target on FMC from $11.00 to $7.50 and set a “market perform” rating for the company in a research report on Friday, October 16th. Finally, JPMorgan Chase & Co. dropped their price target on FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $10.71.

FMC Price Performance

The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 416.31. The company has a market cap of $822.12 million, a P/E ratio of -0.16 and a beta of 0.50. The business’s fifty day moving average is $8.28 and its 200 day moving average is $12.07.

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 the consensus estimate of $0.08 by ($4.49). FMC had a negative net margin of 151.18% and a negative return on equity of 30.77%. The firm had revenue of $105.90 million for the quarter, compared to the consensus estimate of $487.63 million. During the same period last year, the company posted $0.89 earnings per share. FMC’s revenue for the quarter was down 80.5% on a year-over-year basis. As a group, sell-side analysts anticipate that FMC Corporation will post -3.70 EPS for the current year.

Insider Buying and Selling at FMC

In other news, VP Jacqueline Scanlan sold 4,930 shares of FMC stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $6.55, for a total value of $32,291.50. Following the completion of the transaction, the vice president directly owned 58,628 shares in the company, valued at approximately $384,013.40. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.82% of the company’s stock.

Institutional Trading of FMC

A number of institutional investors have recently added to or reduced their stakes in FMC. King Luther Capital Management Corp lifted its holdings in shares of FMC by 40.5% in the third 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 purchased a new position in FMC during the second quarter valued at approximately $8,498,000. Public Sector Pension Investment Board grew its stake in 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 valued at $7,149,000 after acquiring an additional 417,981 shares in the last quarter. AXQ Capital LP increased its holdings in FMC by 109.9% during the 2nd 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 during the period. Finally, Edgestream Partners L.P. bought a new stake in FMC during the 3rd quarter worth approximately $3,460,000. Hedge funds and other 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.