Natixis Asset Management raised its stake in shares of Cognex Co. (NASDAQ:CGNX) by 84.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,470 shares of the scientific and technical instruments company’s stock after acquiring an additional 8,470 shares during the period. Natixis Asset Management’s holdings in Cognex were worth $1,130,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CGNX. Victory Capital Management Inc. raised its stake in shares of Cognex by 623.1% during the 3rd quarter. Victory Capital Management Inc. now owns 110,580 shares of the scientific and technical instruments company’s stock worth $12,195,000 after buying an additional 95,288 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Cognex by 39.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 72,600 shares of the scientific and technical instruments company’s stock valued at $8,006,000 after purchasing an additional 20,400 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Cognex by 2.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 106,868 shares of the scientific and technical instruments company’s stock valued at $11,785,000 after purchasing an additional 2,520 shares in the last quarter. American Century Companies Inc. increased its stake in Cognex by 39.1% in the 3rd quarter. American Century Companies Inc. now owns 512,562 shares of the scientific and technical instruments company’s stock valued at $56,525,000 after purchasing an additional 144,122 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Cognex by 99.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,399 shares of the scientific and technical instruments company’s stock valued at $264,000 after purchasing an additional 1,199 shares in the last quarter. 81.97% of the stock is owned by institutional investors and hedge funds.
In other news, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the sale, the director now owns 294,262 shares in the company, valued at $16,622,860.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by corporate insiders.
Shares of Cognex Co. (CGNX) traded up $0.87 during trading hours on Friday, reaching $55.30. The company’s stock had a trading volume of 2,604,868 shares, compared to its average volume of 2,381,022. The firm has a market cap of $9,408.67, a PE ratio of 56.43 and a beta of 1.54. Cognex Co. has a 52-week low of $38.67 and a 52-week high of $72.99.
Cognex (NASDAQ:CGNX) last announced its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. Cognex’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. equities research analysts anticipate that Cognex Co. will post 1.4 EPS for the current fiscal year.
Cognex announced that its board has initiated a stock repurchase program on Thursday, February 15th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Thursday, March 1st. Cognex’s dividend payout ratio (DPR) is presently 18.37%.
Several research firms recently weighed in on CGNX. Deutsche Bank set a $80.00 price objective on Cognex and gave the company a “buy” rating in a research note on Friday, January 19th. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.83.
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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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