Kamunting Street Capital Management L.P. Has $4.73 Million Stock Position in Nutrien Ltd. (NYSE:NTR)

Kamunting Street Capital Management L.P. raised its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 275.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,705 shares of the company's stock after purchasing an additional 77,552 shares during the quarter. Nutrien accounts for approximately 4.1% of Kamunting Street Capital Management L.P.'s portfolio, making the stock its 6th largest holding. Kamunting Street Capital Management L.P.'s holdings in Nutrien were worth $4,730,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in Nutrien during the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC raised its stake in shares of Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company's stock valued at $28,000 after purchasing an additional 480 shares during the period. Assetmark Inc. raised its stake in shares of Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company's stock valued at $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc acquired a new position in shares of Nutrien during the fourth quarter worth $35,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Nutrien by 96.7% in the fourth 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. Hedge funds and other institutional investors own 63.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NTR. UBS Group dropped their price target on shares of Nutrien from $54.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Scotiabank boosted their price target on Nutrien from $60.00 to $62.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 24th. Piper Sandler raised their price objective on Nutrien from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. BNP Paribas upgraded Nutrien to a "strong-buy" rating in a report on Wednesday, April 9th. Finally, Barclays increased their target price on Nutrien from $56.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.27.

Nutrien Stock Performance

Shares of NYSE:NTR traded up $0.34 during trading on Friday, hitting $54.02. 1,708,989 shares of the company traded hands, compared to its average volume of 2,098,238. The stock has a market capitalization of $26.40 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 1.19 and a beta of 0.77. Nutrien Ltd. has a one year low of $43.70 and a one year high of $60.87. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The business's fifty day moving average is $51.12 and its 200-day moving average is $49.40.

Nutrien (NYSE:NTR - Get Free Report) last issued 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). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. As a group, equities analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, March 31st. Nutrien's payout ratio is 159.12%.

About Nutrien

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.