FMC (NYSE:FMC) Hits New 1-Year Low - Here's Why

Key Points

• FMC shares hit a new 52-week low of $10.23, falling 4.3% in trading and remaining below both their 50-day and 200-day moving averages.
• Analyst sentiment has weakened, with Wall Street Zen downgrading the stock to “sell” and the consensus rating standing at “Reduce.” Analysts’ average price target is $15.38, above the current price.
• FMC reported a quarterly loss, though its adjusted EPS and revenue exceeded estimates; revenue declined 4.1% year over year. The company also declared a quarterly dividend of $0.08 per share, implying a 3.1% annual yield.

FMC Corporation (NYSE:FMC - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $10.23 and last traded at $10.3420, with a volume of 984493 shares traded. The stock had previously closed at $10.94.

Analyst Ratings Changes

Several brokerages have issued reports on FMC. BMO Capital Markets set a $14.00 price objective on FMC in a research report on Friday, July 3rd. Wall Street Zen cut FMC from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Citigroup lowered their target price on FMC from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, June 22nd. The Goldman Sachs Group lifted their price target on FMC from $17.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of FMC from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, FMC currently has a consensus rating of "Reduce" and a consensus price target of $15.38.

FMC Trading Down 4.3%

The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -0.52 and a beta of 0.38. The business's fifty day moving average is $11.73 and its two-hundred day moving average is $13.99.

FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.16. The firm had revenue of $762.40 million during the quarter, compared to analysts' expectations of $745.42 million. FMC had a negative net margin of 72.93% and a positive return on equity of 10.53%. FMC's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Equities analysts anticipate that FMC Corporation will post 1.63 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.1%. FMC's payout ratio is presently -1.60%.

Hedge Funds Weigh In On FMC

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in FMC by 104.9% in the fourth quarter. SG Americas Securities LLC now owns 200,326 shares of the basic materials company's stock valued at $2,779,000 after acquiring an additional 102,545 shares during the last quarter. Icon Wealth Advisors LLC raised its holdings in FMC by 217.2% during the 4th quarter. Icon Wealth Advisors LLC now owns 63,647 shares of the basic materials company's stock worth $883,000 after purchasing an additional 43,582 shares during the last quarter. Entropy Technologies LP bought a new stake in FMC during the 1st quarter worth about $1,401,000. Glenmede Trust Co. NA lifted its position in FMC by 14.9% during the 1st quarter. Glenmede Trust Co. NA now owns 12,427 shares of the basic materials company's stock valued at $214,000 after purchasing an additional 1,614 shares during the period. Finally, Essential Partners LLC acquired a new position in FMC during the 1st quarter valued at about $43,000. Institutional investors and hedge funds 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.

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