FMC (NYSE:FMC) Sets New 12-Month Low – Here’s What Happened

FMC Corporation (NYSE:FMC)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $9.71 and last traded at $9.7650, with a volume of 1483734 shares changing hands. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FMC. Mizuho set a $16.00 price target on shares of FMC in a research report on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on FMC from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Monday, August 3rd. Morgan Stanley dropped their price objective on FMC from $15.50 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Zacks Research cut FMC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FMC in a research note on Wednesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.38.

FMC Trading Down 1.7%

The firm has a market cap of $1.22 billion, a P/E ratio of -0.44 and a beta of 0.41. 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 stock has a 50 day moving average of $11.11 and a 200 day moving average of $12.82.

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

FMC Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.3%. FMC’s dividend payout ratio is currently -1.45%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FMC. Sequoia Financial Advisors LLC boosted its stake in shares of FMC by 379.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 65,414 shares of the basic materials company’s stock valued at $752,000 after purchasing an additional 51,768 shares in the last quarter. Tidal Investments LLC raised its position in FMC by 31.1% in the 2nd quarter. Tidal Investments LLC now owns 25,562 shares of the basic materials company’s stock worth $294,000 after purchasing an additional 6,061 shares during the period. WINTON GROUP Ltd purchased a new position in FMC in the 2nd quarter worth $171,000. IFP Advisors Inc raised its position in FMC by 99.0% in the 2nd 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 period. Finally, Nykredit A S bought a new stake in FMC in the second quarter worth $55,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Company Profile

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.