Nutrien Target of Unusually High Options Trading (NYSE:NTR)

Nutrien Ltd. (NYSE:NTR) was the recipient of unusually large options trading on Friday. Traders acquired 20,710 put options on the company. This is an increase of approximately 357% compared to the average daily volume of 4,536 put options.

Nutrien Price Performance

Shares of NTR stock traded up $0.82 during midday trading on Friday, reaching $44.86. 359,520 shares of the company traded hands, compared to its average volume of 1,953,195. Nutrien has a 1-year low of $43.87 and a 1-year high of $60.87. 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’s 50 day simple moving average is $47.57 and its two-hundred day simple moving average is $48.74. The firm has a market cap of $22.09 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. Nutrien’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. On average, equities research analysts expect that Nutrien will post 3.5 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be given a $0.939 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 8.37%. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is presently 144.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Van Lanschot Kempen Investment Management N.V. increased its position in shares of Nutrien by 301.0% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 272,669 shares of the company’s stock worth $13,882,000 after acquiring an additional 204,664 shares during the last quarter. Family Firm Inc. bought a new position in Nutrien during the 2nd quarter valued at $32,000. Raymond James Trust N.A. grew its holdings in Nutrien by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 28,622 shares of the company’s stock worth $1,457,000 after acquiring an additional 303 shares in the last quarter. Meixler Investment Management Ltd. raised its stake in shares of Nutrien by 17.3% in the 2nd quarter. Meixler Investment Management Ltd. now owns 6,871 shares of the company’s stock valued at $350,000 after purchasing an additional 1,013 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich grew its stake in Nutrien by 2.3% in the second quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock worth $461,000 after purchasing an additional 202 shares in the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTR. CIBC reissued an “outperformer” rating and set a $55.00 target price (down previously from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $62.00 to $50.00 in a research note on Tuesday, September 24th. UBS Group cut Nutrien from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a research report on Friday, September 20th. Finally, TD Securities cut their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Nutrien presently has an average rating of “Hold” and an average price target of $58.95.

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.