FMC (NYSE:FMC) Shares Down 6% – Time to Sell?

FMC Corporation (NYSE:FMC)’s stock price dropped 6% during trading on Monday. The company traded as low as $5.30 and last traded at $5.2950. Approximately 952,265 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 4,417,702 shares. The stock had previously closed at $5.63.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FMC. Barclays lowered their target price on shares of FMC from $9.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, October 15th. Royal Bank Of Canada decreased their price target on FMC from $9.00 to $7.00 and set a “sector perform” rating for the company in a report on Monday, November 2nd. Wall Street Zen lowered FMC from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group cut their target price on FMC from $10.00 to $6.50 and set a “neutral” rating on the stock in a research report on Tuesday, November 3rd. Finally, Mizuho set a $10.00 target price on FMC in a research note on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $10.71.

FMC Price Performance

The firm has a market cap of $868.79 million, a price-to-earnings ratio of -0.17 and a beta of 0.50. The business has a 50 day simple moving average of $8.63 and a 200-day simple moving average of $12.23. The company has a debt-to-equity ratio of 416.31, a quick ratio of 1.18 and a current ratio of 1.66.

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

Insider Transactions at FMC

In other news, VP Jacqueline Scanlan sold 4,930 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $6.55, for a total value of $32,291.50. Following the completion of the sale, the vice president owned 58,628 shares in the company, valued at $384,013.40. This represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FMC

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of FMC in the second quarter valued at approximately $8,498,000. King Luther Capital Management Corp boosted its holdings in shares of FMC by 40.5% in 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 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after buying an additional 191,945 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of FMC by 142.4% in 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 during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in FMC during the second quarter valued at approximately $1,175,000. Institutional investors own 91.86% of the company’s stock.

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.