FMC (NYSE:FMC) Stock Price Down 6% – Here’s What Happened

FMC Corporation (NYSE:FMC) traded down 6% on Monday. The company traded as low as $5.30 and last traded at $5.2950. Approximately 952,265 shares changed 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on FMC shares. Jefferies Financial Group assumed coverage on FMC in a research report on Monday, November 2nd. They set a “hold” rating and a $6.00 price target on the stock. Morgan Stanley dropped their target price on shares of FMC from $12.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, November 2nd. JPMorgan Chase & Co. cut their price objective on FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Wall Street Zen cut shares of FMC from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Citigroup boosted their price target on FMC from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, FMC currently has a consensus rating of “Reduce” and an average target price of $10.71.

FMC Stock Up 3.8%

The company has a market cap of $873.47 million, a P/E ratio of -0.17 and a beta of 0.50. The company’s 50-day moving average is $8.40 and its two-hundred day moving average is $12.13. The company has a debt-to-equity ratio of 416.31, a current ratio of 1.66 and a quick ratio of 1.18.

FMC (NYSE:FMC) last released its quarterly earnings data 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 business had revenue of $105.90 million during the quarter, compared to the consensus estimate of $487.63 million. During the same period last year, the company posted $0.89 earnings per share. The business’s revenue was down 80.5% compared to the same quarter last year. As a group, equities analysts predict that FMC Corporation will post -3.70 earnings per share for the current fiscal year.

Insider Activity at FMC

In related news, VP Jacqueline Scanlan sold 4,930 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $6.55, for a total transaction of $32,291.50. Following the sale, the vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently bought and sold shares of FMC. King Luther Capital Management Corp grew its stake 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. Public Sector Pension Investment Board lifted its position in FMC by 97.3% during the third quarter. Public Sector Pension Investment Board now owns 847,614 shares of the basic materials company’s stock valued at $7,149,000 after purchasing an additional 417,981 shares during the period. Bank of New York Mellon Corp purchased a new stake in FMC in the second quarter worth approximately $8,498,000. Edgestream Partners L.P. purchased a new stake in FMC in the third quarter worth approximately $3,460,000. Finally, AXQ Capital LP boosted its holdings in FMC by 109.9% in the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock worth $4,217,000 after purchasing an additional 191,945 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Company Profile

FMC Corporation is an agricultural sciences company that develops and sells crop protection products for farmers and other agricultural customers. Its portfolio includes insecticides, herbicides and fungicides designed to help manage pests, weeds and crop diseases. The company also offers biological solutions and products intended to support plant health. Its products are used across a range of crops and farming systems, and FMC serves agricultural markets around the world. FMC traces its origins to 1883, when it was established as the Bean Spray Pump Company.