FMC Corporation (NYSE:FMC) Receives Consensus Recommendation of “Hold” from Analysts

FMC Corporation (NYSE:FMC) has been given an average rating of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.25.

Several brokerages have recently issued reports on FMC. Morgan Stanley decreased their price target on shares of FMC from $15.50 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. BMO Capital Markets set a $14.00 price objective on FMC in a research note on Friday, July 3rd. Barclays upgraded FMC from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 6th. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup reissued a “buy” rating on shares of FMC in a research report on Tuesday, August 4th.

FMC Price Performance

FMC opened at $10.15 on Tuesday. The firm has a market cap of $1.27 billion, a P/E ratio of -0.46 and a beta of 0.38. The firm has a 50-day moving average of $11.09 and a 200 day moving average of $13.55. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.48 and a current ratio of 1.99. FMC has a fifty-two week low of $9.94 and a fifty-two week high of $40.84.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. On average, research analysts expect that FMC will post 1.26 EPS for the current year.

FMC Dividend Announcement

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

Institutional Investors Weigh In On FMC

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in FMC during the second quarter valued at about $8,498,000. SG Americas Securities LLC increased its stake in shares of 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 purchasing an additional 13,330 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of FMC in the first quarter worth about $1,401,000. Icon Wealth Advisors LLC raised its position in shares of FMC by 217.2% in the fourth quarter. Icon Wealth Advisors LLC now owns 63,647 shares of the basic materials company’s stock valued at $883,000 after purchasing an additional 43,582 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of FMC by 67.1% in the second quarter. Handelsbanken Fonder AB now owns 58,000 shares of the basic materials company’s stock valued at $667,000 after purchasing an additional 23,300 shares during the period. Hedge funds and other 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.