FMC Corp. (NYSE: FMC) stock jumped 0.11% on Monday to $53.71 against a previous-day closing price of $53.65. With 1.58 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.98 million shares. During the session, the Agricultural Inputs company that operates in wider Basic Materials sector, reached to the highest price of $54.43 whereas the lowest price it dropped to was $52.56. The 52-week range on FMC shows that it touched its highest point at $134.38 and its lowest point at $49.49 during that stretch. It currently has a 1-year price target of $71.93. With its current market cap of 6.70 billion, FMC has annualized dividend of $2.31 while the current yield stands at 4.31%. Beta for the stock currently stands at 0.88.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FMC was up-trending over the past week, with a rise of 4.84%, but this was down by -19.78% over a month. Three-month performance dropped to -39.32% while six-month performance fell -50.19%. The stock lost -57.81% in the past year, while it has lost -56.96% so far this year. A look at the trailing 12-month EPS for FMC yields 3.93 with Next year EPS estimates of 4.63. For the next quarter, that number is 1.18. This implies an EPS growth rate of -46.78% for this year and 17.42% for next year.
Float and Shares Shorts:
At present, 125.11 million FMC shares are outstanding with a float of 123.95 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.37 million, which was 3.50% higher than short shares on Sep 28, 2023. In addition to Mr. Mark A. Douglas as the firm’s President, CEO & Director, Mr. Andrew D. Sandifer serves as its Executive VP & CFO.
Through their ownership of 91.85% of FMC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.63% of FMC, in contrast to 43.98% held by mutual funds. Shares owned by individuals account for 1.73%. As the largest shareholder in FMC with 11.07% of the stake, The Vanguard Group, Inc. holds 13,804,661 shares worth 13,804,661. A second-largest stockholder of FMC, Wellington Management Co. LLP, holds 10,881,670 shares, controlling over 8.72% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in FMC, holding 6,665,450 shares or 5.34% stake. With a 3.14% stake in FMC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,911,374 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.41% of FMC stock, is the second-largest Mutual Fund holder. It holds 3,011,019 shares valued at 160.19 million. Vanguard Mid Cap Index Fund holds 2.27% of the stake in FMC, owning 2,834,439 shares worth 150.79 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FMC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FMC analysts setting a high price target of $117.80 and a low target of $53.00, the average target price over the next 12 months is $72.04. Based on these targets, FMC could surge 119.33% to reach the target high and fall by -1.32% to reach the target low. Reaching the average price target will result in a growth of 34.13% from current levels.
Summary of Insider Activity:
Insiders traded FMC stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 37,153 shares were bought while 0 shares were sold. The number of buy transactions has increased to 123 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 146,082 while 41,432 shares were sold.