GMT Capital Corp Invests $6.32 Million in Nutrien Ltd. $NTR

Key Points

• GMT Capital Corp has acquired a significant stake in Nutrien Ltd., purchasing 127,200 shares valued at approximately $6.3 million in the first quarter.
• Nutrien recently announced a quarterly dividend of $0.545 per share, which will be paid on October 17, 2023, representing an annualized dividend yield of 3.8%.
• The company reported earnings of $2.65 per share for the last quarter, surpassing estimates and showing a 2.8% revenue increase compared to the previous year.

GMT Capital Corp bought a new stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 127,200 shares of the company's stock, valued at approximately $6,318,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in Nutrien by 0.4% in the first quarter. Public Sector Pension Investment Board now owns 47,329 shares of the company's stock worth $2,349,000 after purchasing an additional 200 shares during the last quarter. Blume Capital Management Inc. boosted its position in Nutrien by 0.7% in the first quarter. Blume Capital Management Inc. now owns 31,796 shares of the company's stock worth $1,579,000 after purchasing an additional 220 shares during the last quarter. Tidal Investments LLC boosted its position in Nutrien by 2.9% in the fourth quarter. Tidal Investments LLC now owns 10,262 shares of the company's stock worth $459,000 after purchasing an additional 293 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in Nutrien by 5.9% in the first quarter. Mesirow Financial Investment Management Inc. now owns 5,532 shares of the company's stock worth $275,000 after purchasing an additional 309 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 63.10% of the company's stock.

Nutrien Trading Down 1.3%

Shares of Nutrien stock traded down $0.77 on Wednesday, reaching $56.83. The company had a trading volume of 2,190,925 shares, compared to its average volume of 2,262,233. The firm's 50-day moving average price is $58.75 and its two-hundred day moving average price is $56.05. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The firm has a market cap of $27.62 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 0.97 and a beta of 0.77.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.24. The business had revenue of $10.30 billion during the quarter, compared to analysts' expectations of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.34 EPS. As a group, research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien's dividend payout ratio is currently 78.14%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Nutrien from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Royal Bank Of Canada reissued an "outperform" rating on shares of Nutrien in a research note on Monday, July 14th. Zacks Research raised Nutrien from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. Raymond James Financial downgraded Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price objective on the stock. in a research note on Tuesday, June 17th. Finally, Bank of America lifted their price objective on Nutrien from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.65.

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.