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

Key Points

• FMC shares hit a new 52-week low, falling to $9.71 and trading below both their 50-day ($11.11) and 200-day ($12.82) moving averages.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $14.38; ratings include four Buys, seven Holds, and three Sells.
• FMC exceeded quarterly EPS expectations ($0.26 versus $0.22) but missed revenue estimates, with sales down 17.5% year over year. The company declared a quarterly dividend of $0.08, yielding approximately 3.3% annually.

Shares of FMC Corporation (NYSE:FMC - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $9.71 and last traded at $9.7650, with a volume of 1483734 shares traded. The stock had previously closed at $9.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FMC shares. Zacks Research lowered FMC from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st. Citigroup restated a "buy" rating on shares of FMC in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of FMC from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. KeyCorp assumed coverage on shares of FMC in a research report on Friday, September 11th. They issued an "overweight" rating and a $16.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $18.00 target price on shares of FMC in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.38.

FMC Price Performance

The stock 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 quick ratio of 1.48, a current ratio of 1.99 and a debt-to-equity ratio of 2.38. The business's 50-day simple moving average is $11.11 and its two-hundred day simple moving average is $12.82.

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

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC's dividend payout ratio (DPR) is presently -1.45%.

Institutional Trading of FMC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in FMC during the 2nd quarter valued at about $8,498,000. AXQ Capital LP lifted its holdings in shares of FMC by 109.9% in the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company's stock worth $4,217,000 after buying an additional 191,945 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of FMC by 142.4% in the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company's stock valued at $2,704,000 after acquiring an additional 138,098 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of FMC in the second quarter valued at approximately $1,175,000. Finally, Entropy Technologies LP purchased a new position in FMC during the first quarter valued at approximately $1,401,000. 91.86% of the stock is currently owned by 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.

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