5 Best Materials Stocks To Invest In

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1. Nutrien Ltd. (NYSE:NTR)

Forward P/E ratio as of December 16: 6.08

Number of Hedge Fund Holders: 52

Nutrien Ltd. (NYSE:NTR) is a Canadian fertilizer company that manufactures and distributes potash, nitrogen, phosphate, and ammonium sulfate. The company is the world’s largest potash manufacturer and the third-biggest nitrogen fertilizer producer. Nutrien Ltd. (NYSE:NTR) sells its products worldwide to industrial and agricultural customers. The company employs over 23,500 people and operates over 2,000 retail sites in North America, South America, and Australia.

On November 11, 2022, Benjamin Theurer, an analyst at Barclays, reduced his price target on Nutrien Ltd. (NYSE:NTR) to $95 from $105 while keeping an Overweight rating on the stock. The company’s Q3 2022 revenues were reported at $7.98 billion, missing market expectations by $663.20 million. The company’s Normalized EPS in the last quarter stood at $2.51, missing estimates by $1.43.

As per Insider Monkey’s database, 52 hedge funds remained bullish on Nutrien Ltd. (NYSE:NTR) at the end of Q3 2022. First Eagle Investment Management came out to be the biggest holder of the company’s shares at the end of the quarter.

ClearBridge Investments made the following comment about Nutrien Ltd. (NYSE:NTR) in its Q3 2022 investor letter:

However, we believe this is exactly the kind of environment that separates the highest-quality companies from their peers and allows them to strengthen their competitive positioning. For example, Nutrien Ltd. (NYSE:NTR), a Canadian fertilizer company, was a top contributor during the quarter. While the war in Ukraine and economic sanctions on Russia have significantly reduced the output of two of the world’s largest agricultural producers, Nutrien has benefited from a strong global agricultural cycle and from farmers seeking to increase their output and capitalize on higher agricultural prices.

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