Cognex Co. (CGNX) Stake Increased by Mirae Asset Global Investments Co. Ltd.
Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cognex Co. (NASDAQ:CGNX) by 59.2% during the fourth quarter, Holdings Channel reports. The fund owned 11,382 shares of the scientific and technical instruments company’s stock after buying an additional 4,233 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cognex were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ruggie Capital Group purchased a new position in Cognex during the fourth quarter valued at approximately $27,000. CWM LLC lifted its holdings in Cognex by 1,952.6% during the fourth quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 742 shares in the last quarter. Howe & Rusling Inc. purchased a new position in Cognex during the fourth quarter valued at approximately $39,000. Oregon Public Employees Retirement Fund lifted its holdings in Cognex by 3,621.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,422,295 shares of the scientific and technical instruments company’s stock valued at $89,000 after purchasing an additional 3,330,340 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Cognex by 78.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,705 shares of the scientific and technical instruments company’s stock valued at $105,000 after purchasing an additional 1,185 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Theodor Krantz sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $53.18, for a total value of $1,595,400.00. Following the sale, the director now owns 52,500 shares in the company, valued at $2,791,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.40% of the company’s stock.
Cognex stock opened at $54.35 on Friday. The company has a market cap of $9.28 billion, a PE ratio of 43.83, a P/E/G ratio of 2.79 and a beta of 2.01. Cognex Co. has a 1 year low of $34.88 and a 1 year high of $59.18.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $193.29 million for the quarter, compared to analysts’ expectations of $184.82 million. Cognex had a net margin of 27.19% and a return on equity of 19.75%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. On average, sell-side analysts expect that Cognex Co. will post 1.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, February 28th. Cognex’s dividend payout ratio is presently 16.13%.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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