FMC (NYSE:FMC) Stock Price Down 6.5% After Analyst Downgrade

FMC Corporation (NYSE:FMC) shares were down 6.5% on Tuesday after Weiss Ratings downgraded the stock from a sell (d-) rating to a sell (e+) rating. The stock traded as low as $6.24 and last traded at $6.0750. 480,711 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,375,636 shares. The stock had previously closed at $6.50.

A number of other equities analysts also recently issued reports on the company. KeyCorp began coverage on FMC in a research report on Friday, September 11th. They set an “overweight” rating and a $16.00 price target on the stock. Mizuho set a $10.00 price target on FMC in a report on Thursday, October 15th. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group restated a “buy” rating and set a $18.00 price objective on shares of FMC in a report on Friday, July 31st. Finally, BMO Capital Markets cut their price objective on shares of FMC from $11.00 to $7.50 and set a “market perform” rating on the stock in a report on Friday, October 16th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FMC currently has a consensus rating of “Reduce” and an average target price of $10.89.

Institutional Trading of FMC

Large investors have recently added to or reduced their stakes in the company. Greenleaf Trust increased its holdings in shares of FMC by 75.1% in the third quarter. Greenleaf Trust now owns 48,418 shares of the basic materials company’s stock valued at $432,000 after purchasing an additional 20,765 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of FMC by 73.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 21,995 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 9,345 shares during the last quarter. Cidel Asset Management Inc. purchased a new position in shares of FMC in the third quarter worth about $90,000. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of FMC by 1,292.2% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,411 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 3,166 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in shares of FMC during the third quarter worth about $205,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Price Performance

The stock has a fifty day moving average of $9.03 and a 200 day moving average of $12.42. The stock has a market cap of $782.04 million, a price-to-earnings ratio of -0.19 and a beta of 0.45. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48.

FMC (NYSE:FMC) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($4.49). FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%. The business had revenue of $105.90 million during the quarter, compared to analyst estimates of $487.63 million. During the same quarter last year, the company posted $0.89 EPS. FMC’s quarterly revenue was down 80.5% compared to the same quarter last year. On average, analysts expect that FMC Corporation will post -3.58 EPS for the current fiscal year.

FMC Company Profile

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.