FMC (NYSE:FMC) Sets New 52-Week Low - What's Next?

Key Points

• FMC shares fell 6.3% to a new 52-week low of $8.21, well below their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $1.05 billion.
• Analyst sentiment is mixed but leans toward caution: FMC has an average “Hold” rating and a consensus price target of $13.85, with targets ranging from $12 to $18.
• FMC beat quarterly EPS estimates, reporting $0.26 versus $0.22 expected, but revenue declined 17.5% year over year to $841.4 million and the company posted a substantial net loss. It declared a quarterly dividend of $0.08, representing a 3.8% annualized yield.

FMC Corporation (NYSE:FMC - Get Free Report) shares reached a new 52-week low on Saturday. The stock traded as low as $8.21 and last traded at $8.3550, with a volume of 5,190,084 shares. The stock had previously closed at $8.92.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FMC. JPMorgan Chase & Co. lowered their price objective on shares of FMC from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Zacks Research lowered FMC from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $18.00 price target on shares of FMC in a research note on Friday, July 31st. Citigroup reiterated a "buy" rating on shares of FMC in a report on Tuesday, August 4th. Finally, KeyCorp initiated coverage on FMC in a research note on Friday, September 11th. They issued an "overweight" rating and a $16.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, FMC has an average rating of "Hold" and a consensus price target of $13.85.

FMC Trading Down 6.3%

The firm has a 50-day simple moving average of $10.58 and a 200-day simple moving average of $12.40. The stock has a market cap of $1.05 billion, a PE ratio of -0.38 and a beta of 0.45. 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 issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $841.40 million during the quarter, compared to the consensus estimate of $895.14 million. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%. The company's revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. Equities analysts forecast that FMC Corporation will post 1.25 earnings per share for the current year.

FMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC's dividend payout ratio (DPR) is -1.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of FMC during the second quarter valued at $8,498,000. AXQ Capital LP raised its holdings in shares of FMC by 109.9% during the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company's stock worth $4,217,000 after acquiring an additional 191,945 shares in the last quarter. SG Americas Securities LLC increased its stake in FMC by 6.7% during the first quarter. SG Americas Securities LLC now owns 213,656 shares of the basic materials company's stock worth $3,679,000 after acquiring an additional 13,330 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of FMC by 142.4% during the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company's stock worth $2,704,000 after purchasing an additional 138,098 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of FMC during the first quarter valued at approximately $1,401,000. Hedge funds and other institutional investors own 91.86% of the company's stock.

FMC Company Profile

FMC Corporation NYSE: FMC is an agricultural sciences company that develops, manufactures and markets crop protection products for farmers and other agricultural professionals. Its portfolio includes herbicides, insecticides and fungicides used to help protect crops from weeds, insects and diseases.

The company also develops biological and other crop health solutions, supported by research in areas such as plant science, chemistry and biotechnology. FMC's products are used across a range of crops and growing conditions, and the company serves agricultural markets in North America, Latin America, Europe, Asia and other regions worldwide.

FMC traces its origins to 1883 and has evolved through acquisitions and investments in agricultural technology into a focused crop protection company.

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