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

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

A number of other hedge funds have also recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its holdings in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Nutrien by 1,014.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock worth $30,000 after acquiring an additional 436 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Nutrien in the second quarter worth approximately $30,000. Evolution Wealth Management Inc. purchased a new stake in Nutrien in the first quarter valued at approximately $32,000. Finally, Allied Private Wealth LLC purchased a new stake in Nutrien in the second quarter valued at approximately $33,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Stock Performance

NYSE:NTR opened at $72.81 on Wednesday. The firm’s fifty day simple moving average is $66.73 and its 200 day simple moving average is $70.47. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36. The firm has a market capitalization of $34.83 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.75 and a beta of 0.61.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The company had revenue of $10.81 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period last year, the business earned $2.65 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Nutrien Ltd. will post 4.95 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 3.0%. Nutrien’s payout ratio is 44.53%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NTR. Scotia raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, June 30th. National Bank Financial lowered their price objective on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Raymond James Financial raised shares of Nutrien from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $74.00 to $90.00 in a research note on Tuesday, May 5th. Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.58.

About Nutrien

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.