Polar Asset Management Partners Inc. Purchases New Shares in Nutrien Ltd. $NTR

Polar Asset Management Partners Inc. purchased a new position in shares of Nutrien Ltd. (NYSE:NTR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 35,205 shares of the company’s stock, valued at approximately $2,211,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CORDA Investment Management LLC. purchased a new position in Nutrien in the second quarter valued at about $33,209,000. Vanguard Group Inc. increased its holdings in Nutrien by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock worth $1,386,546,000 after purchasing an additional 479,834 shares during the last quarter. Bryn Mawr Trust Advisors LLC acquired a new position in shares of Nutrien in the 2nd quarter valued at approximately $8,363,000. Geode Capital Management LLC raised its position in shares of Nutrien by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 4,833,284 shares of the company’s stock valued at $304,217,000 after purchasing an additional 309,025 shares in the last quarter. Finally, Black Creek Investment Management Inc. raised its position in shares of Nutrien by 7.9% in the 4th quarter. Black Creek Investment Management Inc. now owns 2,553,108 shares of the company’s stock valued at $157,796,000 after purchasing an additional 185,864 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NTR shares. Morgan Stanley decreased their price target on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Barclays reduced their price objective on shares of Nutrien from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Monday, August 10th. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a report on Tuesday, June 30th. Finally, Raymond James Financial raised shares of Nutrien from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $90.00 in a research report on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nutrien presently has a consensus rating of “Moderate Buy” and an average price target of $81.58.

Nutrien Trading Down 2.0%

NYSE:NTR opened at $72.81 on Wednesday. The company has a market cap of $34.83 billion, a PE ratio of 14.74, a P/E/G ratio of 0.75 and a beta of 0.61. The business’s 50 day moving average is $66.73 and its two-hundred day moving average is $70.47. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The firm had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. Nutrien’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.65 earnings per share. On average, analysts predict that Nutrien Ltd. will post 4.95 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien’s payout ratio is currently 44.53%.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.