Ownership Capital B.V. boosted its position in Cognex Co. (NASDAQ:CGNX) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 882,901 shares of the scientific and technical instruments company’s stock after buying an additional 20,521 shares during the period. Cognex makes up about 1.9% of Ownership Capital B.V.’s holdings, making the stock its 22nd biggest position. Ownership Capital B.V. owned approximately 0.52% of Cognex worth $42,362,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CGNX. NEXT Financial Group Inc lifted its holdings in Cognex by 1,081.8% in the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 476 shares during the period. Bremer Bank National Association acquired a new stake in Cognex in the first quarter valued at $27,000. Osborn Williams & Donohoe LLC acquired a new stake in Cognex in the first quarter valued at $33,000. Huntington National Bank lifted its holdings in Cognex by 173.6% in the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 401 shares during the period. Finally, Coastal Capital Group Inc. acquired a new stake in Cognex in the second quarter valued at $38,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.
CGNX stock traded down $0.25 during trading on Thursday, hitting $43.49. The stock had a trading volume of 73,386 shares, compared to its average volume of 1,656,671. The company has a 50 day moving average price of $43.79. Cognex Co. has a 1-year low of $34.88 and a 1-year high of $59.18. The company has a market capitalization of $7.43 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 3.32 and a beta of 2.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.07 and a current ratio of 7.92.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, August 15th. Cognex’s payout ratio is 16.13%.
A number of equities research analysts have commented on the company. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Needham & Company LLC downgraded Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Goldman Sachs Group downgraded Cognex from a “neutral” rating to a “sell” rating and cut their price target for the stock from $45.00 to $36.00 in a research note on Tuesday, July 16th. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley cut their price target on Cognex from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Cognex presently has a consensus rating of “Hold” and an average target price of $50.60.
In related news, Director Dianne M. Parrotte sold 900 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $40,500.00. Following the completion of the transaction, the director now owns 19,700 shares of the company’s stock, valued at approximately $886,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.
Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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