Old Mutual Global Investors UK Ltd. Invests $1.90 Million in Cognex Corporation (CGNX)

Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Cognex Corporation (NASDAQ:CGNX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,336 shares of the scientific and technical instruments company’s stock, valued at approximately $1,896,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Cognex Corporation by 2.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock valued at $170,000 after buying an additional 47 shares during the last quarter. Sawtooth Solutions LLC raised its holdings in shares of Cognex Corporation by 1.3% during the second quarter. Sawtooth Solutions LLC now owns 4,009 shares of the scientific and technical instruments company’s stock valued at $340,000 after buying an additional 51 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Cognex Corporation by 0.4% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 14,830 shares of the scientific and technical instruments company’s stock valued at $1,245,000 after buying an additional 66 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Cognex Corporation by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,645 shares of the scientific and technical instruments company’s stock valued at $1,074,000 after buying an additional 75 shares during the last quarter. Finally, Flinton Capital Management LLC raised its holdings in shares of Cognex Corporation by 3.4% during the first quarter. Flinton Capital Management LLC now owns 2,400 shares of the scientific and technical instruments company’s stock valued at $201,000 after buying an additional 80 shares during the last quarter. 87.30% of the stock is currently owned by institutional investors.

Shares of Cognex Corporation (NASDAQ:CGNX) opened at 107.91 on Friday. The company’s 50-day moving average price is $102.09 and its 200 day moving average price is $90.25. Cognex Corporation has a one year low of $47.25 and a one year high of $110.69. The company has a market cap of $9.34 billion, a PE ratio of 49.30 and a beta of 1.40.

Cognex Corporation (NASDAQ:CGNX) last announced its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The company had revenue of $172.90 million for the quarter, compared to analyst estimates of $169.79 million. During the same period in the prior year, the business earned $0.50 earnings per share. Cognex Corporation’s quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts forecast that Cognex Corporation will post $2.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a dividend of $0.085 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.32%. Cognex Corporation’s payout ratio is 15.60%.

A number of research firms have recently weighed in on CGNX. Cowen and Company reaffirmed an “outperform” rating and set a $135.00 price target (up previously from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. BidaskClub raised Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Wolfe Research began coverage on Cognex Corporation in a report on Tuesday, July 11th. They set a “peer perform” rating on the stock. Finally, Zacks Investment Research raised Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $82.75.

COPYRIGHT VIOLATION WARNING: “Old Mutual Global Investors UK Ltd. Invests $1.90 Million in Cognex Corporation (CGNX)” was first reported by Markets Daily and is owned by of Markets Daily. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://www.themarketsdaily.com/2017/09/10/old-mutual-global-investors-uk-ltd-invests-1-90-million-in-cognex-corporation-cgnx.html.

In other news, Director Theodor Krantz sold 9,750 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $103.78, for a total transaction of $1,011,855.00. Following the transaction, the director now directly owns 22,500 shares in the company, valued at $2,335,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total transaction of $513,350.00. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at $616,020. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock worth $12,686,176 over the last quarter. 5.60% of the stock is owned by company insiders.

Cognex Corporation Company Profile

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.

Institutional Ownership by Quarter for Cognex Corporation (NASDAQ:CGNX)

Receive News & Ratings for Cognex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply