FMC (NYSE:FMC) Sets New 1-Year Low – What’s Next?

FMC Corporation (NYSE:FMC)’s share price hit a new 52-week low on Friday . The stock traded as low as $9.83 and last traded at $10.0020, with a volume of 818819 shares traded. The stock had previously closed at $10.20.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FMC. Seaport Research Partners set a $21.00 target price on FMC in a research report on Tuesday, August 4th. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Morgan Stanley cut their price objective on FMC from $15.50 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, BMO Capital Markets set a $14.00 target price on shares of FMC in a research report on Friday, July 3rd. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, FMC has an average rating of “Hold” and a consensus price target of $14.38.

FMC Stock Performance

The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -0.46 and a beta of 0.41. The stock’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $12.92.

FMC (NYSE:FMC) last posted 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. The business had revenue of $841.40 million during the quarter, compared to the consensus estimate of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Analysts predict that FMC Corporation will post 1.27 EPS for the current year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 annualized dividend and a yield of 3.2%. FMC’s dividend payout ratio is -1.45%.

Hedge Funds Weigh In On FMC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of FMC during the second quarter worth approximately $8,498,000. AXQ Capital LP raised 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. SG Americas Securities LLC lifted its stake in FMC by 6.7% in the first 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 during the last quarter. Wellington Management Group LLP lifted its stake in FMC by 142.4% in the second 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 during the last quarter. Finally, Entropy Technologies LP acquired a new position in FMC during the 1st quarter worth approximately $1,401,000. Hedge funds and other 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.