FMC (NYSE:FMC) Stock Sees Heavy Put Option Buying

FMC Corporation (NYSE:FMC) was the target of unusually large options trading activity on Wednesday. Traders purchased 22,046 put options on the stock. This represents an increase of approximately 896% compared to the average volume of 2,214 put options.

FMC Trading Down 7.4%

Shares of FMC stock traded down $0.40 during trading hours on Wednesday, reaching $4.92. The company’s stock had a trading volume of 3,459,058 shares, compared to its average volume of 4,154,545. FMC has a one year low of $4.82 and a one year high of $30.95. The stock has a market capitalization of $615.49 million, a P/E ratio of -0.22 and a beta of 0.45. The firm’s fifty day simple moving average is $10.04 and its 200 day simple moving average is $11.92. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC) last released its earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The firm had revenue of $841.40 million for the quarter, compared to the consensus estimate of $895.14 million. During the same period in the prior year, the firm earned $0.69 EPS. The company’s revenue was down 17.5% compared to the same quarter last year. Equities research analysts expect that FMC will post 1.15 EPS for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.08 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.32 annualized dividend and a yield of 6.5%. FMC’s dividend payout ratio (DPR) is currently -1.45%.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently modified their holdings of FMC. IFP Advisors Inc increased its stake in FMC by 99.0% in the 2nd quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company’s stock worth $31,000 after buying an additional 1,356 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of FMC by 14.9% in the 1st quarter. Glenmede Trust Co. NA now owns 12,427 shares of the basic materials company’s stock worth $214,000 after buying an additional 1,614 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of FMC by 3,642.9% in the 1st quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 1,785 shares during the period. GAMMA Investing LLC grew its holdings in FMC by 47.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,620 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 2,139 shares during the last quarter. Finally, NFSG Corp boosted its stake in shares of FMC by 41.1% during the third quarter. NFSG Corp now owns 7,550 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 2,200 shares during the period. 91.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FMC has been the subject of a number of research reports. Seaport Research Partners set a $21.00 price target on FMC in a research note on Tuesday, August 4th. BMO Capital Markets lowered their target price on shares of FMC from $11.00 to $7.50 and set a “market perform” rating on the stock in a report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of FMC in a report on Friday, July 31st. UBS Group dropped their price target on FMC from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Finally, Zacks Research lowered shares of FMC from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $11.25.

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.