FMC (FMC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of FMC (NYSE:FMC) from a strong-buy rating to a hold rating in a research note released on Friday, November 10th.

According to Zacks, “FMC Corp. saw lower profits in the third quarter. Adjusted earnings beat the Zacks Consensus Estimate, but sales missed. FMC Corp. has outperformed the industry it belongs to over a year. The company is seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. The acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. The company should also gain from its efforts to expand product portfolio. However, FMC Corp. is faced with challenging agriculture market fundamentals, especially in Latin America. It is also exposed to headwind from weak prices in its agriculture unit, mostly in Brazil. The company’s stretched valuation is another concern.”

A number of other brokerages have also recently issued reports on FMC. KeyCorp boosted their price objective on shares of FMC from $98.00 to $105.00 and gave the company a buy rating in a report on Monday, October 16th. Royal Bank Of Canada boosted their price objective on shares of FMC from $83.00 to $93.00 and gave the company an outperform rating in a report on Friday, August 4th. Piper Jaffray Companies set a $85.00 price objective on shares of FMC and gave the company a hold rating in a report on Friday, October 6th. Jefferies Group reiterated a buy rating and issued a $100.00 price target on shares of FMC in a report on Friday, September 15th. Finally, Bank of America upgraded shares of FMC from an underperform rating to a buy rating and upped their price target for the company from $66.00 to $103.00 in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $90.94.

Shares of FMC (NYSE FMC) traded down $1.29 during trading hours on Friday, hitting $93.21. 1,062,500 shares of the stock traded hands, compared to its average volume of 1,275,465. FMC has a 12 month low of $54.75 and a 12 month high of $95.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 2.19. The firm has a market cap of $12,690.00, a PE ratio of 38.00, a price-to-earnings-growth ratio of 3.17 and a beta of 1.61.

FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.07. The firm had revenue of $646.20 million during the quarter, compared to analysts’ expectations of $686.21 million. FMC had a net margin of 0.78% and a return on equity of 16.77%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. sell-side analysts anticipate that FMC will post 2.65 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its position in shares of FMC by 0.6% in the third quarter. Great West Life Assurance Co. Can now owns 91,917 shares of the basic materials company’s stock worth $8,077,000 after purchasing an additional 572 shares in the last quarter. Gabelli Funds LLC raised its position in FMC by 1.8% during the third quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock worth $3,090,000 after acquiring an additional 600 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in FMC by 6.3% during the second quarter. Xact Kapitalforvaltning AB now owns 22,519 shares of the basic materials company’s stock worth $1,645,000 after acquiring an additional 1,336 shares in the last quarter. Hanseatic Management Services Inc. raised its position in FMC by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Advisor Partners LLC bought a new stake in FMC during the third quarter worth $216,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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About FMC

FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.

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