FMC (NYSE:FMC) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of FMC (NYSE:FMC) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities analysts have also weighed in on FMC. The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 price objective on shares of FMC in a research report on Friday, July 31st. KeyCorp assumed coverage on FMC in a research note on Friday, September 11th. They issued an “overweight” rating and a $16.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. UBS Group dropped their price objective on FMC from $10.00 to $6.50 and set a “neutral” rating for the company in a report on Tuesday, November 3rd. Finally, Jefferies Financial Group assumed coverage on FMC in a research report on Monday, November 2nd. They set a “hold” rating and a $6.00 target price for the company. Three 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 MarketBeat.com, FMC currently has an average rating of “Reduce” and a consensus target price of $10.71.

FMC Stock Down 7.3%

Shares of NYSE:FMC opened at $5.62 on Friday. FMC has a 52 week low of $4.37 and a 52 week high of $18.29. The company has a debt-to-equity ratio of 416.31, a quick ratio of 1.18 and a current ratio of 1.66. The company has a market capitalization of $875.02 million, a PE ratio of -0.17 and a beta of 0.50. The company has a 50 day moving average price of $8.63 and a two-hundred day moving average price of $12.23.

FMC (NYSE:FMC) last posted 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). The company had revenue of $105.90 million during the quarter, compared to the consensus estimate of $487.63 million. FMC had a negative net margin of 151.18% and a negative return on equity of 30.77%. The company’s revenue was down 80.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. Analysts forecast that FMC will post -3.71 earnings per share for the current year.

Insider Buying and Selling at FMC

In related news, VP Jacqueline Scanlan sold 4,930 shares of FMC stock in a transaction that occurred 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 directly owned 58,628 shares of the company’s stock, valued at approximately $384,013.40. The trade was a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of FMC during the second quarter valued at about $8,498,000. King Luther Capital Management Corp raised its holdings in 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 purchasing an additional 431,640 shares in the last quarter. AXQ Capital LP raised its holdings in FMC by 109.9% in the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock worth $4,217,000 after purchasing an additional 191,945 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of FMC by 142.4% in the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock worth $2,704,000 after purchasing an additional 138,098 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of FMC in the 2nd quarter worth about $1,175,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

About FMC

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.