FMC (NYSE:FMC) Sets New 1-Year Low – What’s Next?

FMC Corporation (NYSE:FMC)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.83 and last traded at $10.0020, with a volume of 818819 shares traded. The stock had previously closed at $10.20.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FMC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of FMC in a research note on Wednesday, August 26th. Seaport Research Partners set a $21.00 price target on FMC in a research note on Tuesday, August 4th. Barclays raised FMC from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. KeyCorp initiated coverage on FMC in a report on Friday, September 11th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Mizuho set a $16.00 target price on FMC in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.38.

FMC Stock Performance

The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -0.46 and a beta of 0.41. The stock’s 50 day moving average is $11.16 and its two-hundred day moving average is $12.92. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 company 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 posted $0.69 earnings per share. FMC’s quarterly revenue was down 17.5% on a year-over-year basis. Analysts anticipate that FMC Corporation will post 1.27 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, September 30th. FMC’s payout ratio is -1.45%.

Institutional Trading of FMC

Hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its stake in shares of FMC by 3,642.9% in the 1st quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 1,785 shares during the last quarter. Essential Partners LLC purchased a new stake in shares of FMC during the first quarter worth approximately $43,000. IFP Advisors Inc raised its stake in shares of FMC by 99.0% during the second quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,356 shares during the last quarter. Nykredit A S acquired a new stake in shares of FMC during the second quarter worth $55,000. Finally, Parallel Advisors LLC lifted its holdings in shares of FMC by 297.2% during the first quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 4,687 shares during the period. 91.86% of the stock is owned by institutional investors and hedge funds.

About FMC

FMC Corporation is an agricultural sciences company that develops, manufactures and markets crop protection products. Its portfolio includes insecticides, herbicides, fungicides and other solutions designed to help farmers manage weeds, insects and plant diseases and improve crop productivity.

The company serves agricultural customers through a global commercial and research network, providing products for major crops such as cereals, corn, cotton, fruits, vegetables, rice and soybeans.