Old West Investment Management LLC Takes $16.31 Million Position in Nutrien Ltd. $NTR

Old West Investment Management LLC acquired a new position in Nutrien Ltd. (NYSE:NTR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 259,047 shares of the company’s stock, valued at approximately $16,307,000. Nutrien accounts for 1.7% of Old West Investment Management LLC’s investment portfolio, making the stock its 18th largest position. Old West Investment Management LLC owned about 0.05% of Nutrien at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Nutrien by 65.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock worth $1,253,000 after acquiring an additional 9,950 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Nutrien by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock valued at $343,000 after acquiring an additional 404 shares during the period. Focus Partners Wealth purchased a new stake in shares of Nutrien in the 1st quarter worth $516,000. Acadian Asset Management LLC purchased a new stake in shares of Nutrien in the 1st quarter worth $54,000. Finally, Prudential Financial Inc. bought a new position in Nutrien in the 2nd quarter worth $203,000. 63.10% of the stock is currently owned by institutional investors.

Nutrien Price Performance

NYSE:NTR opened at $68.26 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $65.93 and its two-hundred day simple moving average is $70.39. The stock has a market cap of $32.65 billion, a PE ratio of 13.82, a P/E/G ratio of 0.68 and a beta of 0.61. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The business had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $2.65 EPS. As a group, analysts forecast that Nutrien Ltd. will post 5.01 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. Nutrien’s payout ratio is currently 44.53%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTR. Barclays lowered their target price on Nutrien from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Oppenheimer decreased their price objective on Nutrien from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. UBS Group lowered their price objective on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, July 28th. Finally, Scotia raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a report on Tuesday, June 30th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nutrien presently has a consensus rating of “Moderate Buy” and an average target price of $81.58.

Nutrien Profile

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.