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

Key Points

• Polar Asset Management Partners initiated a Nutrien position by purchasing 35,205 shares valued at approximately $2.2 million. Institutional investors and hedge funds collectively own 63.1% of Nutrien’s outstanding stock.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year and above estimates, but earnings of $2.61 per share fell short of the $2.70 consensus forecast. The company declared a quarterly dividend of $0.55 per share, equivalent to a 3.0% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $81.58 compared with the reported share price of $72.81.

Polar Asset Management Partners Inc. bought a new position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) 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 - Get Free Report) 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.

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