FMC (NYSE:FMC) Shares Down 4.7% - What's Next?

Key Points

• FMC shares fell 4.7% to about $12.71 in mid-day trading, with volume down 89% from the average. The stock’s market capitalization is approximately $1.60 billion.
• Analyst sentiment remains mixed, with three Buy, eight Hold and three Sell ratings; the consensus rating is Hold with an average price target of $14.25.
• FMC’s latest quarterly results beat earnings expectations ($0.26 EPS versus $0.22), but revenue declined 17.5% year over year to $841.4 million. The company also declared a quarterly dividend of $0.08 per share, representing a 2.5% annualized yield.

FMC Corporation (NYSE:FMC - Get Free Report)'s share price was down 4.7% during mid-day trading on Thursday . The company traded as low as $12.54 and last traded at $12.7050. 406,210 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,818,195 shares. The stock had previously closed at $13.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FMC shares. Seaport Research Partners set a $21.00 target price on FMC in a report on Tuesday, August 4th. Zacks Research cut FMC from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Citigroup reissued a "buy" rating on shares of FMC in a research report on Tuesday, August 4th. Barclays raised FMC from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets set a $14.00 target price on FMC in a research note on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $14.25.

FMC Trading Down 4.2%

The business has a 50 day simple moving average of $11.04 and a 200-day simple moving average of $13.12. The stock has a market capitalization of $1.60 billion, a P/E ratio of -0.58 and a beta of 0.41. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.48 and a current ratio of 1.99.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $841.40 million during the quarter, compared to analyst estimates 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 was down 17.5% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. On average, analysts predict that FMC Corporation will post 1.27 EPS for the current year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.5%. FMC's dividend payout ratio is presently -1.45%.

Institutional Trading of FMC

A number of hedge funds have recently modified their holdings of FMC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FMC by 11.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,448 shares of the basic materials company's stock valued at $2,171,000 after acquiring an additional 5,091 shares during the period. Focus Partners Wealth increased its position in shares of FMC by 137.7% during the 1st quarter. Focus Partners Wealth now owns 21,427 shares of the basic materials company's stock worth $904,000 after purchasing an additional 12,414 shares in the last quarter. State of Tennessee Department of Treasury increased its position in shares of FMC by 45.1% during the 2nd quarter. State of Tennessee Department of Treasury now owns 57,504 shares of the basic materials company's stock worth $2,401,000 after purchasing an additional 17,878 shares in the last quarter. Entropy Technologies LP bought a new position in FMC during the 3rd quarter valued at about $267,000. Finally, Armistice Capital LLC bought a new position in FMC during the 3rd quarter valued at about $204,000. Institutional investors own 91.86% of the company's stock.

FMC Company Profile

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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