Huntington National Bank Has $6,259,000 Position in Monsanto Co. (MON)
Huntington National Bank maintained its stake in Monsanto Co. (NYSE:MON) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,614 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Monsanto were worth $6,259,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MON. Howard Hughes Medical Institute bought a new stake in shares of Monsanto during the first quarter valued at about $110,000. Carnick & Kubik LLC bought a new stake in shares of Monsanto during the first quarter valued at about $130,000. Palladium Partners LLC bought a new stake in shares of Monsanto during the second quarter valued at about $205,000. First Quadrant L P CA increased its stake in shares of Monsanto by 42.9% in the second quarter. First Quadrant L P CA now owns 2,000 shares of the company’s stock valued at $207,000 after buying an additional 600 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in shares of Monsanto during the second quarter valued at about $210,000. Institutional investors and hedge funds own 79.22% of the company’s stock.
Shares of Monsanto Co. (NYSE:MON) traded up 1.06% during trading on Tuesday, hitting $102.88. 3,568,996 shares of the stock traded hands. Monsanto Co. has a 1-year low of $81.22 and a 1-year high of $114.26. The company has a 50 day moving average of $105.86 and a 200-day moving average of $100.40. The company has a market cap of $45.02 billion, a PE ratio of 45.28 and a beta of 1.24.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by $0.23. The company earned $4.19 billion during the quarter, compared to analyst estimates of $4.49 billion. Monsanto had a return on equity of 37.98% and a net margin of 7.76%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.39 earnings per share. On average, equities analysts anticipate that Monsanto Co. will post $4.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.16 annualized dividend and a dividend yield of 2.10%. Monsanto’s dividend payout ratio (DPR) is currently 89.26%.
MON has been the subject of several recent research reports. TheStreet upgraded Monsanto to a “buy” rating in a report on Thursday, May 26th. Jefferies Group upgraded Monsanto from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $132.00 in a report on Wednesday, May 25th. They noted that the move was a valuation call. Macquarie set a $110.00 price target on Monsanto and gave the company a “buy” rating in a report on Wednesday, May 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $100.00 price target on shares of Monsanto in a report on Wednesday, May 25th. Finally, Vetr downgraded Monsanto from a “strong-buy” rating to a “buy” rating and set a $117.33 price target for the company. in a report on Monday, May 30th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $111.12.
In other news, CEO Michael K. Stern sold 12,797 shares of Monsanto stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $101.77, for a total transaction of $1,302,350.69. Following the sale, the chief executive officer now directly owns 21,583 shares in the company, valued at approximately $2,196,501.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brett D. Begemann sold 27,980 shares of Monsanto stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $103.62, for a total transaction of $2,899,287.60. Following the sale, the chief operating officer now owns 102,480 shares in the company, valued at $10,618,977.60. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Monsanto Company Profile
Monsanto Company (Monsanto), along with its subsidiaries, is a provider of agricultural products for farmers. The Company provides seeds, biotechnology trait products, herbicides and precision agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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