Concourse Capital Management LLC Invests $3.90 Million in Potash Corporation of Saskatchewan Inc. (POT) Stock

Concourse Capital Management LLC purchased a new stake in shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 202,740 shares of the fertilizer maker’s stock, valued at approximately $3,901,000. Potash Corporation of Saskatchewan accounts for approximately 1.9% of Concourse Capital Management LLC’s investment portfolio, making the stock its 16th largest position.

A number of other large investors also recently added to or reduced their stakes in POT. State Street Corp grew its holdings in Potash Corporation of Saskatchewan by 10.5% during the first quarter. State Street Corp now owns 1,142,590 shares of the fertilizer maker’s stock valued at $19,515,000 after purchasing an additional 108,295 shares during the period. Beck Mack & Oliver LLC lifted its position in shares of Potash Corporation of Saskatchewan by 12.0% in the second quarter. Beck Mack & Oliver LLC now owns 611,660 shares of the fertilizer maker’s stock valued at $9,970,000 after acquiring an additional 65,300 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of Potash Corporation of Saskatchewan by 100.0% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 24,000 shares of the fertilizer maker’s stock valued at $391,000 after acquiring an additional 12,000 shares in the last quarter. CAPROCK Group Inc. purchased a new position in shares of Potash Corporation of Saskatchewan in the second quarter valued at about $236,000. Finally, Bessemer Group Inc. lifted its position in shares of Potash Corporation of Saskatchewan by 126.8% in the second quarter. Bessemer Group Inc. now owns 9,892 shares of the fertilizer maker’s stock valued at $162,000 after acquiring an additional 5,530 shares in the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Potash Corporation of Saskatchewan Inc. (NYSE POT) traded down $0.02 during trading hours on Monday, hitting $19.41. The company had a trading volume of 1,298,100 shares, compared to its average volume of 4,860,777. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $16,320.00, a P/E ratio of 38.82, a P/E/G ratio of 4.74 and a beta of 0.46. Potash Corporation of Saskatchewan Inc. has a 12 month low of $15.74 and a 12 month high of $20.26.

Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last posted its earnings results on Thursday, October 26th. The fertilizer maker reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Potash Corporation of Saskatchewan had a return on equity of 5.01% and a net margin of 10.21%. Potash Corporation of Saskatchewan’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. equities research analysts predict that Potash Corporation of Saskatchewan Inc. will post 0.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, September 29th were given a $0.10 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. Potash Corporation of Saskatchewan’s dividend payout ratio is currently 75.47%.

POT has been the topic of several research analyst reports. Zacks Investment Research downgraded Potash Corporation of Saskatchewan from a “hold” rating to a “strong sell” rating in a research report on Monday, October 23rd. BMO Capital Markets restated a “hold” rating on shares of Potash Corporation of Saskatchewan in a research report on Sunday, August 13th. Stifel Nicolaus restated a “buy” rating and issued a $20.50 price objective on shares of Potash Corporation of Saskatchewan in a research report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and issued a $20.00 price objective on shares of Potash Corporation of Saskatchewan in a research report on Wednesday, October 18th. Finally, UBS AG boosted their price objective on Potash Corporation of Saskatchewan from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.02.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://transcriptdaily.com/2017/11/27/concourse-capital-management-llc-invests-3-90-million-in-potash-corporation-of-saskatchewan-inc-pot-stock.html.

Potash Corporation of Saskatchewan Company Profile

Potash Corporation of Saskatchewan Inc (PCS) is a fertilizer producer producing a range of primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. As of December 31, 2016, it owned and operated five potash operations in Saskatchewan and owned one in New Brunswick.

Institutional Ownership by Quarter for Potash Corporation of Saskatchewan (NYSE:POT)

Receive News & Ratings for Potash Corporation of Saskatchewan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potash Corporation of Saskatchewan Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply