Sterneck Capital Management LLC Boosts Stake in Potash Corporation of Saskatchewan Inc. (POT)

Sterneck Capital Management LLC increased its holdings in Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) by 51.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 175,012 shares of the fertilizer maker’s stock after buying an additional 59,213 shares during the period. Potash Corporation of Saskatchewan comprises approximately 1.7% of Sterneck Capital Management LLC’s holdings, making the stock its 19th biggest position. Sterneck Capital Management LLC’s holdings in Potash Corporation of Saskatchewan were worth $2,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC boosted its holdings in shares of Potash Corporation of Saskatchewan by 33.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 54,356,354 shares of the fertilizer maker’s stock valued at $886,009,000 after buying an additional 13,588,283 shares during the period. Vanguard Group Inc. lifted its position in Potash Corporation of Saskatchewan by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 19,579,208 shares of the fertilizer maker’s stock valued at $319,141,000 after purchasing an additional 804,672 shares during the last quarter. Jarislowsky Fraser Ltd lifted its position in Potash Corporation of Saskatchewan by 1.4% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 18,945,804 shares of the fertilizer maker’s stock valued at $308,542,000 after purchasing an additional 254,401 shares during the last quarter. Carmignac Gestion lifted its position in Potash Corporation of Saskatchewan by 0.4% in the 2nd quarter. Carmignac Gestion now owns 12,299,830 shares of the fertilizer maker’s stock valued at $200,487,000 after purchasing an additional 43,900 shares during the last quarter. Finally, TD Asset Management Inc. lifted its position in Potash Corporation of Saskatchewan by 1.6% in the 2nd quarter. TD Asset Management Inc. now owns 6,422,208 shares of the fertilizer maker’s stock valued at $104,589,000 after purchasing an additional 101,631 shares during the last quarter. 56.98% of the stock is owned by institutional investors and hedge funds.

Potash Corporation of Saskatchewan Inc. (NYSE:POT) traded up 1.604% on Friday, hitting $19.325. 1,477,171 shares of the stock traded hands. Potash Corporation of Saskatchewan Inc. has a 12-month low of $15.72 and a 12-month high of $20.27. The company’s 50 day moving average price is $18.50 and its 200-day moving average price is $17.31. The stock has a market capitalization of $16.23 billion, a P/E ratio of 34.023 and a beta of 0.48.

Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last announced its quarterly earnings results on Thursday, July 27th. The fertilizer maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $982.05 million. Potash Corporation of Saskatchewan had a net margin of 11.07% and a return on equity of 5.19%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts predict that Potash Corporation of Saskatchewan Inc. will post $0.63 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be given a $0.10 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. Potash Corporation of Saskatchewan’s dividend payout ratio is 67.80%.

Several analysts recently weighed in on POT shares. Scotiabank upgraded shares of Potash Corporation of Saskatchewan from a “sector perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and issued a $19.00 price objective on shares of Potash Corporation of Saskatchewan in a research report on Tuesday, June 20th. Zacks Investment Research downgraded shares of Potash Corporation of Saskatchewan from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 price objective (down from $20.00) on shares of Potash Corporation of Saskatchewan in a research report on Monday, July 10th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Potash Corporation of Saskatchewan in a research report on Sunday, August 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.16.

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Potash Corporation of Saskatchewan Company Profile

Potash Corporation of Saskatchewan Inc (PCS) is a fertilizer producer producing a range of primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. As of December 31, 2016, it owned and operated five potash operations in Saskatchewan and owned one in New Brunswick.

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Institutional Ownership by Quarter for Potash Corporation of Saskatchewan (NYSE:POT)

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