FMC (NYSE:FMC) Shares Down 5% - What's Next?

Key Points

• FMC shares fell 5% to about $10.27, trading below both its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $14.38; recent ratings ranged from “Strong Sell” to “Buy.”
• FMC exceeded quarterly EPS expectations ($0.26 versus $0.22) but missed revenue estimates, with sales down 17.5% year over year. The company also declared a quarterly dividend of $0.08 per share, representing a 3.1% yield.

FMC Corporation (NYSE:FMC - Get Free Report) dropped 5% on Thursday . The stock traded as low as $10.16 and last traded at $10.2650. Approximately 2,532,935 shares were traded during trading, a decline of 33% from the average session volume of 3,788,218 shares. The stock had previously closed at $10.80.

Analyst Upgrades and Downgrades

FMC has been the subject of a number of analyst reports. Zacks Research downgraded FMC from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of FMC from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. The Goldman Sachs Group restated a "buy" rating and issued a $18.00 target price on shares of FMC in a report on Friday, July 31st. Seaport Research Partners set a $21.00 price target on shares of FMC in a report on Tuesday, August 4th. Finally, Barclays raised shares of FMC from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.38.

FMC Stock Performance

The firm has a market capitalization of $1.28 billion, a P/E ratio of -0.47 and a beta of 0.41. The firm has a 50-day moving average price of $11.18 and a two-hundred day moving average price of $12.96. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48.

FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $841.40 million for the quarter, compared to analysts' expectations of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The business's revenue for the quarter was down 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, analysts forecast that FMC Corporation will post 1.27 EPS for the current fiscal 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 paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC's payout ratio is currently -1.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in FMC during the 2nd quarter valued at $8,498,000. AXQ Capital LP lifted its stake in 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 acquiring an additional 191,945 shares during the period. SG Americas Securities LLC grew its holdings in FMC by 6.7% during the 1st 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 in the last quarter. Wellington Management Group LLP grew its holdings in 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 acquiring an additional 138,098 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in FMC during the 1st quarter valued at about $1,401,000. Institutional investors own 91.86% of the company's stock.

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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