Loews Corp Invests $202,000 in Monsanto Company (MON) Stock
Loews Corp acquired a new position in Monsanto Company (NYSE:MON) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,705 shares of the basic materials company’s stock, valued at approximately $202,000.
A number of other institutional investors have also made changes to their positions in the stock. BT Investment Management Ltd purchased a new stake in shares of Monsanto during the 2nd quarter worth about $4,292,000. Destination Wealth Management raised its stake in shares of Monsanto by 1.3% during the 2nd quarter. Destination Wealth Management now owns 79,982 shares of the basic materials company’s stock worth $9,467,000 after purchasing an additional 1,043 shares in the last quarter. Amalgamated Bank raised its stake in shares of Monsanto by 60.9% during the 2nd quarter. Amalgamated Bank now owns 51,887 shares of the basic materials company’s stock worth $6,141,000 after purchasing an additional 19,636 shares in the last quarter. Forbes J M & Co. LLP raised its stake in shares of Monsanto by 15.2% during the 2nd quarter. Forbes J M & Co. LLP now owns 2,212 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 292 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Monsanto by 6.5% during the 2nd quarter. BlackRock Inc. now owns 27,898,255 shares of the basic materials company’s stock worth $3,302,038,000 after purchasing an additional 1,705,439 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.
In other Monsanto news, EVP Robert T. Fraley sold 52,410 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $117.95, for a total value of $6,181,759.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Steven Mizell sold 11,300 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $118.57, for a total value of $1,339,841.00. Following the completion of the sale, the executive vice president now owns 55,011 shares in the company, valued at approximately $6,522,654.27. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.
Shares of Monsanto Company (MON) opened at 119.40 on Friday. The firm has a 50-day moving average price of $117.37 and a 200-day moving average price of $116.53. Monsanto Company has a 12-month low of $97.35 and a 12-month high of $119.60. The firm has a market cap of $52.46 billion, a price-to-earnings ratio of 25.79 and a beta of 1.07.
Monsanto (NYSE:MON) last released its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. Monsanto had a return on equity of 45.26% and a net margin of 14.11%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.17 earnings per share. Equities research analysts anticipate that Monsanto Company will post $4.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.54 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.16 annualized dividend and a yield of 1.81%. Monsanto’s dividend payout ratio is 46.75%.
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A number of equities research analysts have recently weighed in on MON shares. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Friday, June 16th. Vetr raised Monsanto from a “hold” rating to a “buy” rating and set a $122.35 price target for the company in a research note on Wednesday, July 12th. UBS AG downgraded Monsanto from a “buy” rating to a “neutral” rating and set a $128.00 price target for the company. in a research note on Friday, August 18th. BidaskClub raised Monsanto from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $128.00 price target (up from $120.00) on shares of Monsanto in a research note on Thursday, June 29th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $124.09.
Monsanto Company (Monsanto), along with its subsidiaries, is a provider of agricultural products for farmers. The Company provides seeds, biotechnology trait products, herbicides and digital agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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