Mengis Capital Management Inc. Reduces Stock Position in Nutrien Ltd. (NYSE:NTR)

Mengis Capital Management Inc. lowered its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,650 shares of the company’s stock after selling 3,280 shares during the quarter. Mengis Capital Management Inc.’s holdings in Nutrien were worth $1,148,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC boosted its holdings in Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares during the period. Asset Planning Inc purchased a new stake in shares of Nutrien in the 4th quarter worth $35,000. Exchange Traded Concepts LLC lifted its holdings in shares of Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after buying an additional 416 shares during the period. Principal Securities Inc. lifted its holdings in shares of Nutrien by 138.1% in the 4th quarter. Principal Securities Inc. now owns 931 shares of the company’s stock worth $42,000 after buying an additional 540 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Nutrien in the 4th quarter worth $67,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Trading Down 1.0 %

Shares of NYSE:NTR opened at $52.05 on Tuesday. The business’s 50-day moving average is $49.51 and its 200 day moving average is $48.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The firm has a market capitalization of $25.49 billion, a P/E ratio of 37.99, a P/E/G ratio of 1.19 and a beta of 0.81. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $60.87.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. On average, research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.19%. Nutrien’s payout ratio is 159.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NTR shares. Piper Sandler upped their target price on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $60.00 target price on shares of Nutrien in a report on Monday. CIBC reissued an “outperformer” rating and issued a $55.00 price target (down from $60.00) on shares of Nutrien in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Finally, Wells Fargo & Company boosted their price target on Nutrien from $53.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.50.

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.