Smith Asset Management Group LP Invests $8,928,000 in Bruker Corp. (BRKR)
Smith Asset Management Group LP purchased a new position in shares of Bruker Corp. (NASDAQ:BRKR) during the second quarter, Holdings Channel reports. The institutional investor purchased 392,630 shares of the company’s stock, valued at approximately $8,928,000. Smith Asset Management Group LP owned approximately 0.24% of Bruker Corp. as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its position in Bruker Corp. by 27.2% in the first quarter. State Street Corp now owns 1,527,696 shares of the company’s stock worth $42,770,000 after buying an additional 326,527 shares during the period. BlackRock Inc. increased its position in Bruker Corp. by 118.8% in the first quarter. BlackRock Inc. now owns 13,454 shares of the company’s stock worth $377,000 after buying an additional 7,305 shares during the period. BlackRock Group LTD increased its position in Bruker Corp. by 6.4% in the first quarter. BlackRock Group LTD now owns 101,843 shares of the company’s stock worth $2,851,000 after buying an additional 6,123 shares during the period. BlueMountain Capital Management LLC purchased a new position in Bruker Corp. during the first quarter worth $932,000. Finally, Invictus RG increased its position in Bruker Corp. by 697.2% in the first quarter. Invictus RG now owns 13,026 shares of the company’s stock worth $365,000 after buying an additional 11,392 shares during the period. Institutional investors own 69.92% of the company’s stock.
Bruker Corp. (NASDAQ:BRKR) traded up 1.03% during midday trading on Thursday, hitting $22.55. The stock had a trading volume of 351,610 shares. Bruker Corp. has a 52-week low of $15.78 and a 52-week high of $29.85. The firm has a market capitalization of $3.64 billion, a P/E ratio of 33.96 and a beta of 0.91. The firm has a 50-day moving average of $22.19 and a 200 day moving average of $25.28.
Bruker Corp. (NASDAQ:BRKR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Bruker Corp. had a net margin of 6.86% and a return on equity of 22.66%. The firm earned $371.70 million during the quarter, compared to the consensus estimate of $409.57 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Bruker Corp. will post $1.00 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Tuesday, September 6th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.16 annualized dividend and a dividend yield of 0.71%. Bruker Corp.’s dividend payout ratio (DPR) is presently 24.24%.
A number of research firms have weighed in on BRKR. Deutsche Bank AG began coverage on Bruker Corp. in a report on Wednesday, June 1st. They set a “hold” rating on the stock. Zacks Investment Research downgraded Bruker Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Morgan Stanley set a $23.00 target price on Bruker Corp. and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of Bruker Corp. in a report on Friday, June 10th. Finally, Mizuho reduced their target price on Bruker Corp. from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.80.
In related news, CEO Frank H. Laukien purchased 4,500 shares of Bruker Corp. stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average price of $22.17 per share, for a total transaction of $99,765.00. Following the transaction, the chief executive officer now directly owns 37,658,733 shares in the company, valued at $834,894,110.61. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard A. Packer purchased 10,000 shares of Bruker Corp. stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average price of $21.97 per share, with a total value of $219,700.00. Following the transaction, the director now owns 22,500 shares in the company, valued at $494,325. The disclosure for this purchase can be found here. Corporate insiders own 35.80% of the company’s stock.
Bruker Corp. Company Profile
Bruker Corporation is a designer and manufacturer of scientific instruments, and analytical and diagnostic solutions. The Company’s operating segments include the Bruker BioSpin Group; the Bruker Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection (CALID) Group; the Bruker Nano Group, and the Bruker Energy & Supercon Technologies (BEST) Segment.
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