Dimensional Fund Advisors LP Has $58.59 Million Stake in Cognex Corporation (CGNX)
Dimensional Fund Advisors LP reduced its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 697,868 shares of the scientific and technical instruments company’s stock after selling 36,386 shares during the period. Dimensional Fund Advisors LP owned about 0.81% of Cognex Corporation worth $58,586,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CGNX. Segantii Capital Management Ltd acquired a new position in shares of Cognex Corporation during the first quarter worth approximately $101,000. IFP Advisors Inc increased its position in shares of Cognex Corporation by 172.3% in the first quarter. IFP Advisors Inc now owns 1,307 shares of the scientific and technical instruments company’s stock worth $110,000 after buying an additional 827 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Cognex Corporation by 69.9% in the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 650 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Cognex Corporation by 737.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,952 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 1,719 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its position in shares of Cognex Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,042 shares of the scientific and technical instruments company’s stock worth $171,000 after buying an additional 960 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.
Cognex Corporation (NASDAQ:CGNX) traded down 1.13% during trading on Friday, reaching $100.31. The company’s stock had a trading volume of 828,121 shares. The stock has a 50-day moving average of $90.96 and a 200 day moving average of $83.70. The firm has a market capitalization of $8.68 billion, a P/E ratio of 45.82 and a beta of 1.43. Cognex Corporation has a one year low of $47.05 and a one year high of $110.69.
Cognex Corporation (NASDAQ:CGNX) last announced its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The business had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Cognex Corporation will post $2.42 EPS for the current fiscal year.
Cognex Corporation announced that its board has approved a stock repurchase plan on Monday, May 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.34%. Cognex Corporation’s payout ratio is currently 15.60%.
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A number of equities analysts recently commented on the company. Cowen and Company decreased their target price on Cognex Corporation from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, May 2nd. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Tuesday, July 4th. BidaskClub downgraded Cognex Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Finally, Wolfe Research began coverage on Cognex Corporation in a report on Tuesday, July 11th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $82.75.
In related news, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total value of $513,350.00. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $616,020. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert Willett sold 43,981 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $89.79, for a total value of $3,949,053.99. Following the completion of the sale, the chief executive officer now directly owns 20,020 shares of the company’s stock, valued at approximately $1,797,595.80. The disclosure for this sale can be found here. Insiders have sold 112,400 shares of company stock valued at $10,312,529 in the last three months. Insiders own 5.60% of the company’s stock.
Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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