Sterneck Capital Management LLC Acquires 2,484 Shares of Potash Corporation of Saskatchewan Inc. (POT)

Sterneck Capital Management LLC raised its position in shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,799 shares of the fertilizer maker’s stock after buying an additional 2,484 shares during the period. Sterneck Capital Management LLC’s holdings in Potash Corporation of Saskatchewan were worth $1,978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POT. Financial Architects Inc increased its position in Potash Corporation of Saskatchewan by 1.7% in the first quarter. Financial Architects Inc now owns 6,000 shares of the fertilizer maker’s stock worth $102,000 after buying an additional 100 shares in the last quarter. Sowell Financial Services LLC acquired a new position in Potash Corporation of Saskatchewan during the fourth quarter worth $120,000. WFG Advisors LP increased its position in Potash Corporation of Saskatchewan by 356.3% in the fourth quarter. WFG Advisors LP now owns 5,088 shares of the fertilizer maker’s stock worth $160,000 after buying an additional 3,973 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Potash Corporation of Saskatchewan during the first quarter worth $178,000. Finally, Levin Capital Strategies L.P. acquired a new position in Potash Corporation of Saskatchewan during the fourth quarter worth $181,000. Institutional investors and hedge funds own 59.31% of the company’s stock.

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

Potash Corporation of Saskatchewan Inc. (NYSE:POT) traded down 0.36% during trading on Monday, hitting $16.72. 3,620,428 shares of the stock were exchanged. The stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 35.57 and a beta of 0.51. The firm has a 50-day moving average of $16.50 and a 200-day moving average of $17.57. Potash Corporation of Saskatchewan Inc. has a 52 week low of $15.21 and a 52 week high of $20.26. Potash Corporation of Saskatchewan also was the target of some unusual options trading activity on Friday. Stock traders bought 31,430 put options on the stock. This represents an increase of 1,243% compared to the typical daily volume of 2,340 put options.

Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last released its quarterly earnings results on Thursday, April 27th. The fertilizer maker reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.08. Potash Corporation of Saskatchewan had a net margin of 9.41% and a return on equity of 5.52%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $999.41 million. During the same period in the prior year, the company posted $0.15 earnings per share. Potash Corporation of Saskatchewan’s revenue was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Potash Corporation of Saskatchewan Inc. will post $0.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.39%. Potash Corporation of Saskatchewan’s dividend payout ratio (DPR) is presently 81.63%.

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A number of research firms have recently weighed in on POT. Vetr upgraded shares of Potash Corporation of Saskatchewan from a “buy” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Monday, February 20th. Royal Bank Of Canada restated a “buy” rating and set a $19.00 price target on shares of Potash Corporation of Saskatchewan in a report on Monday, April 10th. Raymond James Financial, Inc. raised their price target on shares of Potash Corporation of Saskatchewan from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Monday, May 1st. TD Securities restated a “hold” rating and set a $17.50 price target on shares of Potash Corporation of Saskatchewan in a report on Friday, April 28th. Finally, Citigroup Inc. cut their price target on shares of Potash Corporation of Saskatchewan from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six 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 a consensus target price of $17.89.

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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