SG Americas Securities LLC Has $1.31 Million Holdings in Cognex Co. (CGNX)
SG Americas Securities LLC decreased its holdings in Cognex Co. (NASDAQ:CGNX) by 67.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,503 shares of the scientific and technical instruments company’s stock after selling 49,580 shares during the period. SG Americas Securities LLC’s holdings in Cognex were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. CAPROCK Group Inc. acquired a new position in shares of Cognex in the 3rd quarter valued at approximately $221,000. Chatham Capital Group Inc. acquired a new position in shares of Cognex in the 3rd quarter valued at approximately $232,000. HMS Capital Management LLC acquired a new position in shares of Cognex in the 3rd quarter valued at approximately $242,000. Perigon Wealth Management LLC acquired a new position in shares of Cognex in the 2nd quarter valued at approximately $295,000. Finally, FDx Advisors Inc. raised its position in shares of Cognex by 29.9% in the 2nd quarter. FDx Advisors Inc. now owns 6,821 shares of the scientific and technical instruments company’s stock valued at $304,000 after buying an additional 1,569 shares in the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.
In other Cognex news, Director Anthony Sun sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $56.04, for a total transaction of $560,400.00. Following the sale, the director now directly owns 264,262 shares of the company’s stock, valued at approximately $14,809,242.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total transaction of $271,450.00. Following the sale, the director now directly owns 7,000 shares in the company, valued at $380,030. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, October 29th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $232.22 million for the quarter, compared to analyst estimates of $227.15 million. Cognex had a net margin of 18.52% and a return on equity of 20.88%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, research analysts anticipate that Cognex Co. will post 1.2 earnings per share for the current fiscal year.
Cognex announced that its board has authorized a share buyback program on Monday, October 29th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, November 15th. This is a positive change from Cognex’s previous quarterly dividend of $0.05. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. Cognex’s payout ratio is 13.79%.
Several equities analysts have recently commented on CGNX shares. Zacks Investment Research cut shares of Cognex from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. BidaskClub upgraded shares of Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Northcoast Research cut shares of Cognex from a “buy” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Friday, August 24th. They noted that the move was a valuation call. Morgan Stanley started coverage on shares of Cognex in a report on Monday, August 20th. They set an “equal weight” rating and a $57.00 price target on the stock. Finally, Needham & Company LLC raised shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $51.76.
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Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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