Morgan Stanley Has Lowered Expectations for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price decreased by stock analysts at Morgan Stanley from $12.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley‘s target price points to a potential upside of 26.82% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on FMC. Royal Bank Of Canada dropped their price target on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating for the company in a research note on Monday. KeyCorp started coverage on shares of FMC in a research note on Friday, September 11th. They issued an “overweight” rating and a $16.00 price objective on the stock. 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 report on Thursday, October 15th. BMO Capital Markets dropped their target price on shares of FMC from $11.00 to $7.50 and set a “market perform” rating for the company in a research report on Friday, October 16th. Finally, UBS Group cut their price target on FMC from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. 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 company’s stock. Based on data from MarketBeat.com, FMC presently has an average rating of “Reduce” and a consensus target price of $10.89.

FMC Trading Up 1.7%

FMC stock traded up $0.11 during mid-day trading on Monday, hitting $6.31. The stock had a trading volume of 3,986,815 shares, compared to its average volume of 4,357,041. The stock has a 50-day simple moving average of $9.13 and a two-hundred day simple moving average of $12.46. The stock has a market capitalization of $789.95 million, a PE ratio of -0.19 and a beta of 0.50. FMC has a 12 month low of $4.37 and a 12 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.

FMC (NYSE:FMC) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $105.90 million for the quarter, compared to the consensus estimate of $487.63 million. During the same period in the prior year, the firm posted $0.89 earnings per share. The business’s revenue for the quarter was down 80.5% compared to the same quarter last year. As a group, sell-side analysts forecast that FMC will post -3.58 EPS for the current year.

Institutional Investors Weigh In On FMC

Several hedge funds have recently bought and sold shares of FMC. Greenleaf Trust increased its holdings in shares of FMC by 75.1% in the third quarter. Greenleaf Trust now owns 48,418 shares of the basic materials company’s stock worth $432,000 after acquiring an additional 20,765 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of FMC by 73.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 21,995 shares of the basic materials company’s stock valued at $196,000 after purchasing an additional 9,345 shares in the last quarter. Cidel Asset Management Inc. bought a new position in shares of FMC during the 3rd quarter valued at about $90,000. Pinnacle Wealth Planning Services Inc. grew its position in shares of FMC by 1,292.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,411 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 3,166 shares during the period. Finally, Evergreen Capital Management LLC acquired a new position in shares of FMC in the 3rd quarter valued at approximately $205,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.

About FMC

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.