Mengis Capital Management Inc. Sells 1,828 Shares of Nutrien Ltd. (NYSE:NTR)

Mengis Capital Management Inc. cut its stake in Nutrien Ltd. (NYSE:NTR) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,345 shares of the company’s stock after selling 1,828 shares during the period. Mengis Capital Management Inc.’s holdings in Nutrien were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Townsend & Associates Inc raised its stake in shares of Nutrien by 27.8% in the third quarter. Townsend & Associates Inc now owns 163,942 shares of the company’s stock worth $10,125,000 after acquiring an additional 35,690 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Nutrien by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 6,361,084 shares of the company’s stock worth $394,047,000 after buying an additional 154,159 shares during the period. Canoe Financial LP grew its position in shares of Nutrien by 64.6% during the 3rd quarter. Canoe Financial LP now owns 75,945 shares of the company’s stock worth $4,690,000 after buying an additional 29,819 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Nutrien during the 4th quarter worth approximately $3,433,000. Finally, First Eagle Investment Management LLC grew its position in shares of Nutrien by 0.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 9,262,659 shares of the company’s stock worth $572,062,000 after buying an additional 48,230 shares during the period. 63.10% of the stock is owned by institutional investors.

Nutrien Stock Down 0.3 %

NTR traded down $0.18 during trading on Monday, reaching $52.60. The company had a trading volume of 486,011 shares, compared to its average volume of 2,013,792. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 0.65. Nutrien Ltd. has a 12 month low of $47.90 and a 12 month high of $71.54. The business’s fifty day moving average price is $52.99 and its 200 day moving average price is $54.26. The company has a market cap of $26.02 billion, a P/E ratio of 20.86, a PEG ratio of 1.97 and a beta of 0.89.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.36 billion. Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 EPS. Equities analysts anticipate that Nutrien Ltd. will post 3.82 EPS for the current year.

Nutrien Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Nutrien’s previous quarterly dividend of $0.53. Nutrien’s payout ratio is currently 85.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James cut shares of Nutrien from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $80.00 to $65.00 in a research report on Friday, January 12th. Stifel Nicolaus lifted their price target on shares of Nutrien from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. The Goldman Sachs Group lowered their price target on shares of Nutrien from $88.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Piper Sandler cut shares of Nutrien from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $68.00 to $54.00 in a report on Thursday, February 29th. Finally, Jefferies Financial Group started coverage on shares of Nutrien in a report on Tuesday, March 26th. They set a “buy” rating and a $62.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.95.

Nutrien Company 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.