Traders Buy Large Volume of Put Options on Nutrien (NYSE:NTR)

Posted by on Oct 26th, 2023

Nutrien Ltd. (NYSE:NTR – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 9,123 put options on the stock. This is an increase of 111% compared to the average volume of 4,327 put options.

Nutrien Stock Performance

NYSE NTR opened at $56.07 on Thursday. The company has a 50-day simple moving average of $61.51 and a 200 day simple moving average of $62.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.78 and a current ratio of 1.26. Nutrien has a 52-week low of $52.23 and a 52-week high of $86.32. The company has a market capitalization of $27.73 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 1.30 and a beta of 0.92.

Nutrien (NYSE:NTR – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.30). Nutrien had a return on equity of 16.41% and a net margin of 11.05%. The firm had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company posted $5.85 EPS. The firm’s revenue was down 19.7% compared to the same quarter last year. On average, research analysts predict that Nutrien will post 5.45 EPS for the current year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Thursday, September 28th. Nutrien’s payout ratio is currently 29.78%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTR. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective on shares of Nutrien in a research report on Tuesday, July 25th. HSBC cut their price objective on shares of Nutrien from $81.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, July 26th. JPMorgan Chase & Co. lowered their target price on shares of Nutrien from $78.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Nutrien in a research report on Tuesday, August 8th. Finally, TD Securities reduced their price target on Nutrien from $83.00 to $81.00 and set a “buy” rating on the stock in a research report on Sunday, August 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Nutrien has an average rating of “Hold” and a consensus price target of $79.79.

Read Our Latest Analysis on Nutrien

Hedge Funds Weigh In On Nutrien

Several hedge funds have recently made changes to their positions in the stock. Grace & White Inc. NY bought a new stake in shares of Nutrien during the second quarter valued at about $3,212,000. Geneos Wealth Management Inc. boosted its holdings in Nutrien by 14.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,590 shares of the company’s stock valued at $191,000 after purchasing an additional 319 shares during the period. AE Wealth Management LLC boosted its holdings in Nutrien by 13.7% in the 2nd quarter. AE Wealth Management LLC now owns 5,606 shares of the company’s stock valued at $331,000 after purchasing an additional 675 shares during the period. MRA Advisory Group grew its position in shares of Nutrien by 15.4% during the 2nd quarter. MRA Advisory Group now owns 5,238 shares of the company’s stock valued at $309,000 after purchasing an additional 699 shares in the last quarter. Finally, Ironsides Asset Advisors LLC increased its holdings in shares of Nutrien by 5.9% in the first quarter. Ironsides Asset Advisors LLC now owns 9,830 shares of the company’s stock worth $726,000 after purchasing an additional 550 shares during the period. 62.77% of the stock is currently owned by hedge funds and other institutional investors.

About Nutrien

(Get Free Report)

Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.

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