FMC Corporation (NYSE:FMC – Get Free Report)’s share price was down 5% on Thursday . The company traded as low as $10.16 and last traded at $10.2650. Approximately 2,532,935 shares were traded during trading, a decline of 33% from the average session volume of 3,788,218 shares. The stock had previously closed at $10.80.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on FMC. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Mizuho set a $16.00 target price on FMC in a research note on Tuesday, July 14th. Seaport Research Partners set a $21.00 price target on shares of FMC in a research report on Tuesday, August 4th. BMO Capital Markets set a $14.00 price target on shares of FMC in a report on Friday, July 3rd. Finally, Royal Bank Of Canada decreased their target price on shares of FMC from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.38.
Read Our Latest Analysis on FMC
FMC Trading Down 5.1%
FMC (NYSE:FMC – Get Free Report) last posted its quarterly earnings results 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 company had revenue of $841.40 million during the quarter, compared to analyst estimates of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. FMC’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. Analysts expect that FMC Corporation will post 1.27 EPS for the current fiscal year.
FMC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC’s dividend payout ratio is presently -1.45%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in FMC during the second quarter worth $8,498,000. AXQ Capital LP raised its holdings in shares of FMC by 109.9% during the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after acquiring an additional 191,945 shares during the last quarter. SG Americas Securities LLC lifted its position 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 valued at $3,679,000 after acquiring an additional 13,330 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 worth $2,704,000 after acquiring an additional 138,098 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of FMC during the first quarter worth approximately $1,401,000. 91.86% of the stock is owned by institutional investors and hedge funds.
FMC Company Profile
FMC Corporation is an agricultural sciences company that develops, manufactures and markets crop protection products. Its portfolio includes insecticides, herbicides, fungicides and other solutions designed to help farmers manage weeds, insects and plant diseases and improve crop productivity.
The company serves agricultural customers through a global commercial and research network, providing products for major crops such as cereals, corn, cotton, fruits, vegetables, rice and soybeans.
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