FMC (NYSE:FMC) Stock Gets Downgrade from Wall Street Zen

FMC (NYSE:FMC) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also issued reports on FMC. The Goldman Sachs Group restated a “buy” rating and issued a $18.00 target price on shares of FMC in a research note on Friday, July 31st. Barclays dropped their price target on FMC from $9.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, October 15th. Royal Bank Of Canada cut their price objective on FMC from $9.00 to $7.00 and set a “sector perform” rating on the stock in a report on Monday, November 2nd. Jefferies Financial Group initiated coverage on FMC in a research note on Monday, November 2nd. They issued a “hold” rating and a $6.00 price objective for the company. Finally, KeyCorp started coverage on FMC in a research note on Friday, September 11th. They issued an “overweight” rating and a $16.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $10.71.

FMC Stock Down 0.1%

NYSE:FMC opened at $5.62 on Friday. The company has a market cap of $875.01 million, a PE ratio of -0.17 and a beta of 0.50. FMC has a twelve month low of $4.37 and a twelve month high of $18.29. The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 416.31. The company’s 50 day moving average is $8.63 and its two-hundred day moving average is $12.23.

FMC (NYSE:FMC) last posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). FMC had a negative return on equity of 30.77% and a negative net margin of 151.18%. The company had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $487.63 million. During the same period in the prior year, the business posted $0.89 EPS. The company’s quarterly revenue was down 80.5% on a year-over-year basis. Analysts anticipate that FMC will post -3.71 EPS for the current year.

Insider Buying and Selling at FMC

In related news, VP Jacqueline Scanlan sold 4,930 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president owned 58,628 shares of the company’s stock, valued at $384,013.40. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On FMC

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in shares of FMC in the second quarter worth about $8,498,000. King Luther Capital Management Corp grew its holdings in FMC by 40.5% during the third quarter. King Luther Capital Management Corp now owns 1,497,932 shares of the basic materials company’s stock worth $13,362,000 after acquiring an additional 431,640 shares during the period. AXQ Capital LP grew its holdings in FMC by 109.9% during the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock worth $4,217,000 after acquiring an additional 191,945 shares during the period. Wellington Management Group LLP raised its position in FMC by 142.4% during the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock valued at $2,704,000 after acquiring an additional 138,098 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in FMC during the second quarter valued at approximately $1,175,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

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.