Insiders Cluster Buying As Nutrien Ltd Sees Strong Us Demand

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Nutrien Ltd. (NTR:US), headquartered in Saskatoon, Canada, is a leading global provider of crop inputs and services, operating through four key segments: Retail, Potash, Nitrogen, and Phosphate. The company ranks as the world’s largest potash producer, holding about 25% of global capacity, and is also the third-largest producer of nitrogen.

The company has a current Market cap of CAD 34.96 billion ($25.50 billion) and NTR stock last closed at CAD 70.65. 

Experienced Insiders Cluster Buy

Three Insiders from Nutrien Ltd. were spotted buying NTR shares on June 19. 

CLO Noralee Bradley bought a total of $26,660 worth of NTR stock. Exec. Vice President Trevor Leigh Williams on the other hand invested $66,023 while CCO Mark Thompson invested $7,103 in company shares.

Noralee Bradley joined Nutrien in 2020 as Executive Vice President and Chief Legal Officer. Prior to this, she served as a director of two TSX-listed companies and presently also serves on the STARS Air Ambulance Board and the Dean’s Advisory Council at the Edwards School of Business at the University of Saskatchewan.

On the other hand, Mark Thompson joined Nutrien in 2011, holding various executive and senior leadership roles. Since then, he has played a key role in shaping Nutrien's global strategy, and enterprise sustainability/ESG initiatives, and overseeing critical growth, development, and M&A activities. Trevor Williams joined Nutrien around the same time as Thompson, boasting an 18-year career in the petrochemical business.

Company Growth

On May 8, 2024, Nutrien announced its first quarter results for 2024, reporting net earnings of $165 million ($0.32 diluted earnings per share). The company observed strong demand for crop inputs, along with normalized product margins in North American Retail and higher global potash shipments. The company announced a quarterly dividend of $0.54 per share on the same day.

In addition, Nutrien began the process of selling its retail assets in Argentina, Chile, and Uruguay to concentrate on its core retail businesses and improve earnings and free cash flow. 

Later on June 17, Nutrien Ltd. set the pricing for $1 billion in senior notes, comprising $400 million at 5.2% maturing on June 21, 2027, and $600 million at 5.4% maturing on June 21, 2034.

Nutrien disclosed that it was relying on strong U.S. demand, with farmers planting corn and soybeans, and expects improved conditions in Brazil later this year to boost profits in 2024. This along with the above announcements cement Nutrien stock as a bullish prospect for the year.