ING Groep NV Invests $219,000 in FMC Corp. (FMC)
ING Groep NV bought a new stake in FMC Corp. (NYSE:FMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,719 shares of the company’s stock, valued at approximately $219,000.
Several other large investors also recently added to or reduced their stakes in the company. Seven Eight Capital LLC boosted its position in shares of FMC Corp. by 2.4% in the first quarter. Seven Eight Capital LLC now owns 4,200 shares of the company’s stock worth $170,000 after buying an additional 100 shares during the period. Pitcairn Co. acquired a new position in shares of FMC Corp. during the second quarter worth $214,000. Charter Trust Co. acquired a new position in shares of FMC Corp. during the second quarter worth $218,000. Johanson Financial Advisors Inc. boosted its position in shares of FMC Corp. by 0.4% in the second quarter. Johanson Financial Advisors Inc. now owns 4,992 shares of the company’s stock worth $231,000 after buying an additional 19 shares during the period. Finally, Murphy Capital Management Inc. acquired a new position in shares of FMC Corp. during the second quarter worth $240,000. 94.55% of the stock is currently owned by institutional investors and hedge funds.
FMC Corp. (NYSE:FMC) traded up 0.43% during mid-day trading on Friday, reaching $46.56. 895,558 shares of the company’s stock traded hands. The stock’s market capitalization is $6.23 billion. FMC Corp. has a 12 month low of $32.24 and a 12 month high of $50.57. The firm’s 50-day moving average price is $47.36 and its 200 day moving average price is $46.30.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business earned $810.30 million during the quarter, compared to analysts’ expectations of $889.70 million. FMC Corp. had a positive return on equity of 16.35% and a negative net margin of 2.79%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Equities research analysts predict that FMC Corp. will post $2.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.66 annualized dividend and a dividend yield of 1.42%. FMC Corp.’s payout ratio is -94.29%.
A number of brokerages have weighed in on FMC. Jefferies Group reaffirmed a “buy” rating and set a $58.00 price target on shares of FMC Corp. in a research report on Thursday, September 29th. Susquehanna lifted their price objective on shares of FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Zacks Investment Research lowered shares of FMC Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Credit Suisse Group AG reiterated a “hold” rating and set a $44.00 price objective on shares of FMC Corp. in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. lifted their price objective on shares of FMC Corp. from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.00.
About FMC Corp.
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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