FMC (NYSE:FMC) Stock Jumps 4.9% - Still a Buy?

Key Points

• FMC shares gained 4.9% to about $5.68 in mid-day trading, though trading volume was 55% below its daily average.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $10.71 price target, with 3 Buy, 9 Hold, and 4 Sell ratings.
• FMC reported a sharp quarterly decline, posting a $4.41-per-share loss and $105.9 million in revenue—down 80.5% year over year and well below analysts’ expectations.

FMC Corporation (NYSE:FMC - Get Free Report)'s share price rose 4.9% during mid-day trading on Tuesday. The stock traded as high as $5.67 and last traded at $5.6770. 1,978,360 shares traded hands during trading, a decline of 55% from the average daily volume of 4,434,812 shares. The stock had previously closed at $5.41.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FMC shares. UBS Group lowered their price objective on shares of FMC from $10.00 to $6.50 and set a "neutral" rating on the stock in a research report on Tuesday, November 3rd. Wall Street Zen lowered shares of FMC from a "hold" rating to a "sell" rating in a research report on Saturday. JPMorgan Chase & Co. reduced 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. The Goldman Sachs Group restated a "buy" rating and set a $18.00 price target on shares of FMC in a research report on Friday, July 31st. Finally, Seaport Research Partners set a $21.00 price target on FMC in a research note on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $10.71.

FMC Price Performance

The company has a debt-to-equity ratio of 416.31, a current ratio of 1.66 and a quick ratio of 1.18. The firm has a market capitalization of $868.80 million, a P/E ratio of -0.17 and a beta of 0.50. The firm's 50 day simple moving average is $8.52 and its two-hundred day simple moving average is $12.18.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($4.49). FMC had a negative return on equity of 30.77% and a negative net margin of 151.18%. The company had revenue of $105.90 million during the quarter, compared to analysts' expectations of $487.63 million. During the same quarter in the prior year, the firm posted $0.89 EPS. The firm's quarterly revenue was down 80.5% on a year-over-year basis. As a group, analysts predict that FMC Corporation will post -3.71 earnings per share for the current year.

Insider Activity at FMC

In related news, VP Jacqueline Scanlan sold 4,930 shares of FMC stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $6.55, for a total value of $32,291.50. Following the transaction, the vice president directly owned 58,628 shares of the company's stock, valued at $384,013.40. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FMC

Several hedge funds and other institutional investors have recently modified their holdings of FMC. King Luther Capital Management Corp grew its position in shares of FMC by 40.5% in the 3rd quarter. King Luther Capital Management Corp now owns 1,497,932 shares of the basic materials company's stock worth $13,362,000 after buying an additional 431,640 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in FMC by 97.3% in the third quarter. Public Sector Pension Investment Board now owns 847,614 shares of the basic materials company's stock worth $7,149,000 after acquiring an additional 417,981 shares during the period. Bank of New York Mellon Corp purchased a new stake in FMC in the second quarter worth $8,498,000. Edgestream Partners L.P. purchased a new stake in FMC in the third quarter worth $3,460,000. Finally, AXQ Capital LP boosted its holdings in FMC by 109.9% in the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company's stock valued at $4,217,000 after acquiring an additional 191,945 shares in the last quarter. 91.86% of the stock is owned by institutional investors.

FMC Company Profile

FMC Corporation is an agricultural sciences company that develops and sells crop protection products for farmers and other agricultural customers. Its portfolio includes insecticides, herbicides and fungicides designed to help manage pests, weeds and crop diseases. The company also offers biological solutions and products intended to support plant health. Its products are used across a range of crops and farming systems, and FMC serves agricultural markets around the world. FMC traces its origins to 1883, when it was established as the Bean Spray Pump Company.

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