Kamunting Street Capital Management L.P. Boosts Stock Position in Nutrien Ltd. (NYSE:NTR)

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

A number of other large investors have also recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new stake in Nutrien during the fourth quarter worth about $27,000. HHM Wealth Advisors LLC boosted its holdings in shares of Nutrien by 331.0% in the fourth 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. Assetmark Inc. boosted its holdings in shares of Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company's stock valued at $33,000 after acquiring an additional 690 shares during the period. Asset Planning Inc purchased a new position in shares of Nutrien during the fourth quarter worth approximately $35,000. Finally, Exchange Traded Concepts LLC increased 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 valued at $38,000 after acquiring an additional 416 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Price Performance

Shares of NYSE:NTR traded up $0.34 on Friday, reaching $54.02. 1,708,989 shares of the company traded hands, compared to its average volume of 2,094,755. The company's 50 day moving average is $51.07 and its 200-day moving average is $49.36. 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 stock has a market capitalization of $26.40 billion, a PE ratio of 39.43, a P/E/G ratio of 1.19 and a beta of 0.77. Nutrien Ltd. has a fifty-two week low of $43.70 and a fifty-two week high of $60.87.

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

Nutrien Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a $0.545 dividend. 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 dividend payout ratio is presently 159.12%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NTR shares. Wells Fargo & Company raised their price objective on shares of Nutrien from $53.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. CIBC upped their price target on shares of Nutrien from $64.00 to $66.00 and gave the stock an "outperformer" rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and set a $60.00 price objective on shares of Nutrien in a research report on Monday, February 24th. Piper Sandler raised their price target on Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Finally, Berenberg Bank increased their target price on Nutrien from $54.00 to $59.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Nutrien currently has a consensus rating of "Moderate Buy" and an average target price of $59.27.

Nutrien 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.