Short Interest in FMC Corporation (NYSE:FMC) Declines By 16.6%

FMC Corporation (NYSE:FMC) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 13,171,586 shares, a decline of 16.6% from the December 31st total of 15,796,191 shares. Based on an average daily trading volume, of 3,951,417 shares, the days-to-cover ratio is currently 3.3 days. Currently, 10.6% of the shares of the company are short sold. Currently, 10.6% of the shares of the company are short sold. Based on an average daily trading volume, of 3,951,417 shares, the days-to-cover ratio is currently 3.3 days.

Insiders Place Their Bets

In related news, Director John Mitchell Raines bought 7,000 shares of the stock in a transaction on Thursday, November 13th. The shares were acquired at an average price of $13.77 per share, for a total transaction of $96,390.00. Following the purchase, the director owned 13,784 shares of the company’s stock, valued at approximately $189,805.68. The trade was a 103.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On FMC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its stake in FMC by 180.1% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 815 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 524 shares during the period. Armistice Capital LLC purchased a new stake in shares of FMC in the third quarter worth $204,000. EverSource Wealth Advisors LLC raised its position in shares of FMC by 201.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,076 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 3,391 shares during the period. Entropy Technologies LP bought a new stake in shares of FMC during the 3rd quarter valued at $267,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of FMC by 4.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 11,291 shares of the basic materials company’s stock valued at $380,000 after buying an additional 442 shares in the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Stock Performance

Shares of NYSE:FMC traded up $0.37 during midday trading on Tuesday, hitting $16.02. The company had a trading volume of 4,376,486 shares, compared to its average volume of 3,595,485. FMC has a 12-month low of $12.17 and a 12-month high of $55.21. The company has a fifty day moving average of $14.44 and a two-hundred day moving average of $25.32. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -3.78, a PEG ratio of 0.93 and a beta of 0.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.40 and a quick ratio of 1.05.

FMC Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, December 31st. FMC’s payout ratio is presently -7.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada decreased their price objective on shares of FMC from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, January 21st. Mizuho decreased their target price on shares of FMC from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, January 16th. Bank of America lowered their price target on FMC from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of FMC in a report on Monday, December 29th. Finally, UBS Group reduced their price objective on FMC from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.92.

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.