Today: The Candriam Luxembourg S.C.A. decreases its position in Potash Corp. of Saskatchewan (POT)

The Candriam Luxembourg S.C.A. decreases its position in Potash Corp. of Saskatchewan (POT)

Candriam Luxembourg S.C.A. decreased its position in Potash Corp. of Saskatchewan (NYSE:POT) by 90.6% during the second quarter, Holdings Channel reports. The fund owned 17,407 shares of the fertilizer maker’s stock after selling 167,302 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Potash Corp. of Saskatchewan were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in Potash Corp. of Saskatchewan by 16.7% in the first quarter. Lazard Asset Management LLC now owns 7,000 shares of the fertilizer maker’s stock worth $119,000 after buying an additional 1,000 shares during the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of Potash Corp. of Saskatchewan during the first quarter valued at approximately $124,000. Financial Architects Inc raised its position in shares of Potash Corp. of Saskatchewan by 252.2% in the second quarter. Financial Architects Inc now owns 8,100 shares of the fertilizer maker’s stock valued at $132,000 after buying an additional 5,800 shares in the last quarter. Callahan Advisors LLC raised its position in shares of Potash Corp. of Saskatchewan by 1.0% in the second quarter. Callahan Advisors LLC now owns 10,200 shares of the fertilizer maker’s stock valued at $166,000 after buying an additional 100 shares in the last quarter. Finally, Sigma Planning Corp raised its position in shares of Potash Corp. of Saskatchewan by 0.3% in the second quarter. Sigma Planning Corp now owns 10,589 shares of the fertilizer maker’s stock valued at $172,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 58.84% of the company’s stock.

Potash Corp. of Saskatchewan (NYSE:POT) traded up 0.44% during mid-day trading on Thursday, reaching $16.05. The company had a trading volume of 9,467,942 shares. The stock’s 50-day moving average is $16.50 and its 200 day moving average is $16.61. Potash Corp. of Saskatchewan has a 12 month low of $14.64 and a 12 month high of $22.37. The firm has a market capitalization of $13.47 billion, a P/E ratio of 19.81 and a beta of 0.71.

Potash Corp. of Saskatchewan (NYSE:POT) last announced its quarterly earnings results on Thursday, July 28th. The fertilizer maker reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Potash Corp. of Saskatchewan had a return on equity of 9.17% and a net margin of 13.20%. The company earned $1.05 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was down 39.2% on a year-over-year basis. On average, analysts predict that Potash Corp. of Saskatchewan will post $0.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 12th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, October 7th. This represents a $0.40 dividend on an annualized basis and a yield of 2.49%. Potash Corp. of Saskatchewan’s dividend payout ratio (DPR) is presently 49.38%.

Several brokerages have commented on POT. RBC Capital Markets upgraded shares of Potash Corp. of Saskatchewan from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $15.00 to $19.00 in a research note on Friday, October 7th. Susquehanna upgraded shares of Potash Corp. of Saskatchewan from a “neutral” rating to a “positive” rating and set a $21.00 price target on the stock in a research note on Monday, September 26th. Vetr upgraded shares of Potash Corp. of Saskatchewan from a “buy” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Thursday, September 22nd. Zacks Investment Research upgraded shares of Potash Corp. of Saskatchewan from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, Cleveland Research reiterated a “neutral” rating on shares of Potash Corp. of Saskatchewan in a research note on Wednesday, September 14th. Seven investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.69.

About Potash Corp. of Saskatchewan

Potash Corporation of Saskatchewan Inc is a fertilizer producer producing various primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. It owns and operates approximately five potash operations in Saskatchewan and one in New Brunswick.

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