FMC (NYSE:FMC) Stock Price Down 6% - Should You Sell?

Key Points

• FMC shares fell 6% to about $5.30, on trading volume 78% below the average session volume.
• The company reported a sharp quarterly miss: adjusted earnings were a loss of $4.41 per share versus consensus earnings of $0.08, while revenue fell 80.5% year over year to $105.9 million.
• Analyst views are mixed, but MarketBeat’s consensus rating is “Reduce” with a $10.71 target price; recent targets range from $4 to $18.

FMC Corporation (NYSE:FMC - Get Free Report)'s share price fell 6% during trading on Monday. The company traded as low as $5.30 and last traded at $5.2950. Approximately 952,265 shares were traded during trading, a decline of 78% from the average session volume of 4,417,702 shares. The stock had previously closed at $5.63.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays cut their target price on FMC from $9.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, October 15th. JPMorgan Chase & Co. dropped their price target on FMC from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Citigroup upped their price objective on shares of FMC from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 3rd. The Goldman Sachs Group reiterated a "buy" rating and set a $18.00 price objective on shares of FMC in a research note on Friday, July 31st. Finally, Jefferies Financial Group initiated coverage on shares of FMC in a report on Monday, November 2nd. They issued a "hold" rating and a $6.00 target price on the stock. Three equities research 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. According to MarketBeat.com, FMC has an average rating of "Reduce" and a consensus target price of $10.71.

FMC Stock Performance

The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 416.31. The company has a market cap of $868.79 million, a P/E ratio of -0.17 and a beta of 0.50. The company has a 50 day moving average price of $8.63 and a 200-day moving average price of $12.23.

FMC (NYSE:FMC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share 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 business had revenue of $105.90 million for the quarter, compared to the consensus estimate of $487.63 million. During the same quarter in the prior year, the company earned $0.89 earnings per share. FMC's quarterly revenue was down 80.5% compared to the same quarter last year. On average, equities analysts expect that FMC Corporation will post -3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,930 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $6.55, for a total transaction of $32,291.50. Following the sale, the vice president owned 58,628 shares of the company's stock, valued at approximately $384,013.40. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On FMC

Several hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its holdings in shares of FMC by 188.0% during the third quarter. Hantz Financial Services Inc. now owns 11,941 shares of the basic materials company's stock worth $107,000 after purchasing an additional 7,795 shares during the period. 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 valued at $13,362,000 after buying an additional 431,640 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of FMC by 53.4% in the third quarter. Maryland State Retirement & Pension System now owns 27,923 shares of the basic materials company's stock valued at $249,000 after buying an additional 9,718 shares during the period. Ethic Inc. raised its position in shares of FMC by 38.9% during the third quarter. Ethic Inc. now owns 168,271 shares of the basic materials company's stock worth $1,501,000 after acquiring an additional 47,113 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of FMC by 75.1% during the third quarter. Greenleaf Trust now owns 48,418 shares of the basic materials company's stock worth $432,000 after acquiring an additional 20,765 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company's stock.

FMC Company Profile

FMC Corporation NYSE: FMC is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company's products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.

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