Mengis Capital Management Inc. Reduces Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Mengis Capital Management Inc. trimmed its position in Nutrien Ltd. (NYSE:NTR) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,650 shares of the company’s stock after selling 3,280 shares during the period. Mengis Capital Management Inc.’s holdings in Nutrien were worth $1,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC boosted its position in Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the last quarter. Asset Planning Inc bought a new stake in Nutrien during the 4th quarter valued at approximately $35,000. Exchange Traded Concepts LLC raised its stake in Nutrien by 96.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after purchasing an additional 416 shares during the period. Principal Securities Inc. raised its stake in Nutrien by 138.1% during the 4th quarter. Principal Securities Inc. now owns 931 shares of the company’s stock valued at $42,000 after purchasing an additional 540 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Nutrien during the 4th quarter valued at approximately $67,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Performance

NYSE NTR opened at $52.05 on Tuesday. The company has a market cap of $25.49 billion, a P/E ratio of 37.99, a P/E/G ratio of 1.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The business’s 50 day moving average price is $49.51 and its 200-day moving average price is $48.29. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. Sell-side analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, March 31st. Nutrien’s payout ratio is currently 159.12%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NTR shares. Scotiabank lifted their target price on Nutrien from $60.00 to $62.00 and gave the company a “sector outperform” rating in a research note on Monday. UBS Group lifted their target price on Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. CIBC reissued an “outperformer” rating and set a $55.00 target price (down previously from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $40.00 to $50.00 in a research note on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.