FMC (NYSE:FMC) Shares Down 8.4% After Analyst Downgrade

Key Points

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FMC Corporation (NYSE:FMC - Get Free Report) shares traded down 8.4% during trading on Thursday after Royal Bank Of Canada lowered their price target on the stock from $47.00 to $42.00. Royal Bank Of Canada currently has a sector perform rating on the stock. FMC traded as low as $38.00 and last traded at $37.85. 1,356,152 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 2,594,446 shares. The stock had previously closed at $41.33.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley lowered their price target on FMC from $46.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday. UBS Group lowered their price target on FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a research report on Thursday. Wall Street Zen upgraded FMC from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Barclays increased their price target on FMC from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Mizuho upgraded FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price target on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.38.

Hedge Funds Weigh In On FMC

Hedge funds have recently made changes to their positions in the company. Financial Harvest LLC acquired a new stake in shares of FMC in the first quarter valued at approximately $29,000. Elequin Capital LP acquired a new stake in shares of FMC in the first quarter valued at approximately $30,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of FMC in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC increased its holdings in shares of FMC by 66.6% in the first quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 402 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of FMC in the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 91.86% of the company's stock.

FMC Stock Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.53 and a quick ratio of 1.12. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 1.24 and a beta of 0.75. The firm has a fifty day moving average of $42.09 and a 200 day moving average of $41.55.

FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. FMC had a return on equity of 9.36% and a net margin of 2.42%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $995.15 million. During the same quarter last year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that FMC Corporation will post 3.48 EPS for the current year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.32 annualized dividend and a yield of 6.1%. FMC's dividend payout ratio (DPR) is 290.00%.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.