FMC (NYSE:FMC) Stock Price Target Lowered at Mizuho

FMC (NYSE:FMC) had its price target decreased by research analysts at Mizuho from $15.00 to $12.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Mizuho’s target price would indicate a potential upside of 44.02% from the company’s current price.

Several other brokerages have also issued reports on FMC. Zacks Research lowered FMC from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. KeyCorp initiated coverage on FMC in a report on Friday, September 11th. They issued an “overweight” rating and a $16.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 target price on shares of FMC in a research report on Friday, July 31st. UBS Group decreased their target price on FMC from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Morgan Stanley dropped their price target on FMC from $15.50 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.54.

FMC Trading Down 0.2%

NYSE FMC opened at $8.33 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48. The firm’s fifty day moving average price is $10.54 and its 200 day moving average price is $12.34. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -0.38 and a beta of 0.45. FMC has a 12 month low of $8.07 and a 12 month high of $31.30.

FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The firm had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. During the same period last year, the business earned $0.69 EPS. FMC’s revenue for the quarter was down 17.5% compared to the same quarter last year. On average, sell-side analysts expect that FMC will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FMC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its position in FMC by 99.0% during the 2nd quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 1,356 shares during the period. Glenmede Trust Co. NA grew its stake in shares of FMC by 14.9% in the 1st quarter. Glenmede Trust Co. NA now owns 12,427 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 1,614 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of FMC by 3,642.9% in the 1st quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 1,785 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of FMC by 47.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,620 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 2,139 shares during the last quarter. Finally, Essential Partners LLC acquired a new position in shares of FMC in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

About FMC

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.