3 Stocks Dragging In The Basic Materials Sector

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 29 points (-0.2%) at 16,918 as of Monday, June 23, 2014, 1:00 PM ET. The NYSE advances/declines ratio sits at 1,480 issues advancing vs. 1,509 declining with 147 unchanged.

The Basic Materials sector currently sits up 0.6% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include China Petroleum & Chemical ( SNP), down 2.8%, Baker Hughes ( BHI), down 1.1% and Petroleo Brasileiro SA Petrobras ( PBR), down 1.1%. Top gainers within the sector include YPF Sociedad Anonima ( YPF), up 3.7%, Vale ( VALE), up 2.9%, Southern Copper ( SCCO), up 2.8%, Barrick Gold ( ABX), up 1.9% and Energy Transfer Equity ( ETE), up 1.5%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. FMC Corporation ( FMC) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, FMC Corporation is down $2.90 (-3.9%) to $71.85 on heavy volume. Thus far, 1.9 million shares of FMC Corporation exchanged hands as compared to its average daily volume of 890,300 shares. The stock has ranged in price between $71.19-$73.42 after having opened the day at $73.35 as compared to the previous trading day's close of $74.75.

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for agricultural, industrial, environmental, and consumer markets. It operates in three segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Minerals. FMC Corporation has a market cap of $10.0 billion and is part of the chemicals industry. Shares are down 0.9% year-to-date as of the close of trading on Friday. Currently there are 4 analysts that rate FMC Corporation a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates FMC Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, reasonable valuation levels, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full FMC Corporation Ratings Report now.

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