FMC (NYSE:FMC) Reaches New 12-Month Low – Here’s What Happened

FMC Corporation (NYSE:FMC) shares reached a new 52-week low on Wednesday . The company traded as low as $10.23 and last traded at $10.3420, with a volume of 984493 shares. The stock had previously closed at $10.94.

Wall Street Analyst Weigh In

FMC has been the topic of a number of recent research reports. Citigroup reduced their price objective on shares of FMC from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. Barclays dropped their target price on shares of FMC from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price target on FMC from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Royal Bank Of Canada reduced their price target on FMC from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their price objective on FMC from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, FMC has an average rating of “Reduce” and a consensus target price of $15.38.

FMC Price Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 0.96. The company’s 50 day simple moving average is $11.73 and its 200 day simple moving average is $13.99. The stock has a market cap of $1.31 billion, a P/E ratio of -0.52 and a beta of 0.38.

FMC (NYSE:FMC) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.16. The business had revenue of $762.40 million for the quarter, compared to the consensus estimate of $745.42 million. FMC had a positive return on equity of 10.53% and a negative net margin of 72.93%.The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts forecast that FMC Corporation will post 1.63 earnings per share for the current year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 30th. FMC’s dividend payout ratio (DPR) is presently -1.60%.

Institutional Investors Weigh In On FMC

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FMC by 11.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,448 shares of the basic materials company’s stock worth $2,171,000 after purchasing an additional 5,091 shares in the last quarter. Focus Partners Wealth raised its position in FMC by 137.7% during the first quarter. Focus Partners Wealth now owns 21,427 shares of the basic materials company’s stock worth $904,000 after acquiring an additional 12,414 shares in the last quarter. State of Tennessee Department of Treasury raised its position in FMC by 45.1% during the second quarter. State of Tennessee Department of Treasury now owns 57,504 shares of the basic materials company’s stock worth $2,401,000 after acquiring an additional 17,878 shares in the last quarter. Entropy Technologies LP acquired a new stake in FMC in the third quarter valued at $267,000. Finally, Armistice Capital LLC bought a new position in shares of FMC in the 3rd quarter valued at about $204,000. Institutional investors own 91.86% of the company’s stock.

FMC Company Profile

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.