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

Shares of FMC Corporation (NYSE:FMC) have received an average rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $14.25.

A number of equities analysts have recently issued reports on the company. Morgan Stanley reduced their price target on FMC from $15.50 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Zacks Research downgraded FMC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $18.00 price target on shares of FMC in a research note on Friday, July 31st. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Mizuho set a $16.00 price target on FMC in a research note on Tuesday, July 14th.

FMC Stock Performance

Shares of FMC stock opened at $12.99 on Friday. The company has a market capitalization of $1.63 billion, a PE ratio of -0.59 and a beta of 0.41. The company has a 50-day simple moving average of $11.10 and a two-hundred day simple moving average of $13.11. FMC has a one year low of $9.94 and a one year high of $38.68. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.48 and a current ratio of 1.99.

FMC (NYSE:FMC) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $841.40 million for the quarter, compared to the consensus estimate of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Research analysts expect that FMC will post 1.27 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently announced 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. This represents a $0.32 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC’s payout ratio is currently -1.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FMC. California State Teachers Retirement System lifted its stake in shares of FMC by 1,022.7% during the second quarter. California State Teachers Retirement System now owns 1,861,482 shares of the basic materials company’s stock worth $21,407,000 after buying an additional 1,695,683 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of FMC in the 2nd quarter valued at $8,498,000. AXQ Capital LP increased its position in shares of FMC by 109.9% in the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after acquiring an additional 191,945 shares during the period. Wellington Management Group LLP raised its stake in FMC by 142.4% in the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock worth $2,704,000 after acquiring an additional 138,098 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in 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 acquiring an additional 13,330 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

About FMC

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.