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

Shares of FMC Corporation (NYSE:FMC - Get Free Report) hit a new 52-week low during trading on Wednesday. The company traded as low as $9.07 and last traded at $9.0850, with a volume of 3152217 shares trading hands. The stock had previously closed at $9.21.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BMO Capital Markets set a $14.00 price target on FMC in a research report on Friday, July 3rd. Royal Bank Of Canada reduced their price objective on FMC from $12.00 to $11.00 and set a "sector perform" rating for the company in a research report on Monday, August 3rd. Zacks Research downgraded FMC from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 1st. Mizuho set a $16.00 target price on FMC in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. cut their target price on FMC from $16.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, FMC presently has an average rating of "Hold" and a consensus price target of $14.38.

FMC Stock Down 1.4%

The firm's 50 day simple moving average is $10.96 and its 200 day simple moving average is $12.68. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -0.41 and a beta of 0.41. The company has a quick ratio of 1.48, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $841.40 million for the quarter, compared to analysts' expectations of $895.14 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business's revenue for the quarter was down 17.5% compared to the same quarter last year. Sell-side analysts anticipate that FMC Corporation will post 1.27 EPS for the current fiscal year.

FMC Dividend Announcement

The firm 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 annualized dividend and a yield of 3.5%. FMC's payout ratio is presently -1.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its holdings in shares of FMC by 379.4% during the second 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 during the period. Tidal Investments LLC lifted its holdings in FMC by 31.1% in the second 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 acquired a new stake in FMC in the second quarter worth about $171,000. IFP Advisors Inc grew 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 valued at $31,000 after buying an additional 1,356 shares in the last quarter. Finally, Nykredit A S bought a new position in FMC in the 2nd quarter valued at about $55,000. Institutional investors own 91.86% of the company's stock.

About FMC

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.

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