FMC Corporation (NYSE:FMC) Given Average Recommendation of “Hold” by Brokerages

Shares of FMC Corporation (NYSE:FMC) have earned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.25.

Several research firms recently issued reports on FMC. Seaport Research Partners set a $21.00 price target on FMC in a report on Tuesday, August 4th. Wells Fargo & Company boosted their price objective on FMC from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. cut 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FMC in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded shares of FMC from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st.

Institutional Trading of FMC

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of FMC in the 2nd quarter valued at $8,498,000. SG Americas Securities LLC boosted its position in shares of FMC by 6.7% in the 1st quarter. SG Americas Securities LLC now owns 213,656 shares of the basic materials company’s stock worth $3,679,000 after purchasing an additional 13,330 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of FMC during the second quarter worth $1,175,000. Entropy Technologies LP acquired a new stake in shares of FMC during the first quarter worth $1,401,000. Finally, Icon Wealth Advisors LLC increased its holdings in FMC by 217.2% in the fourth quarter. Icon Wealth Advisors LLC now owns 63,647 shares of the basic materials company’s stock valued at $883,000 after purchasing an additional 43,582 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Stock Performance

Shares of FMC stock opened at $10.16 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48. The firm has a 50 day simple moving average of $11.08 and a 200 day simple moving average of $13.49. FMC has a fifty-two week low of $9.94 and a fifty-two week high of $40.84. The firm has a market cap of $1.27 billion, a P/E ratio of -0.46 and a beta of 0.38.

FMC (NYSE:FMC) last announced 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. The firm had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%.The business’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Sell-side analysts predict that FMC will post 1.26 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.1%. FMC’s dividend payout ratio (DPR) is presently -1.45%.

FMC Company Profile

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.