Hanseatic Management Services Inc. lifted its position in Cognex Co. (NASDAQ:CGNX) by 105.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,642 shares of the scientific and technical instruments company’s stock after buying an additional 11,609 shares during the period. Cognex makes up about 1.4% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 11th biggest position. Hanseatic Management Services Inc.’s holdings in Cognex were worth $1,385,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CGNX. LMR Partners LLP purchased a new position in Cognex during the third quarter valued at $8,308,000. DekaBank Deutsche Girozentrale purchased a new position in Cognex during the third quarter valued at $841,000. Eagle Boston Investment Management Inc. purchased a new position in shares of Cognex in the third quarter valued at about $265,000. WINTON GROUP Ltd purchased a new position in shares of Cognex in the third quarter valued at about $2,272,000. Finally, Advisor Group Inc. lifted its position in shares of Cognex by 40.9% in the third quarter. Advisor Group Inc. now owns 10,393 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after acquiring an additional 3,017 shares in the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.
Shares of Cognex Co. (NASDAQ:CGNX) opened at $56.09 on Monday. Cognex Co. has a twelve month low of $38.67 and a twelve month high of $72.99. The stock has a market capitalization of $9,710.00, a PE ratio of 57.23 and a beta of 1.54.
Cognex announced that its Board of Directors has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a $0.045 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.18 annualized dividend and a dividend yield of 0.32%. Cognex’s dividend payout ratio (DPR) is 18.37%.
Several brokerages have recently commented on CGNX. Deutsche Bank set a $80.00 price objective on Cognex and gave the company a “buy” rating in a research report on Friday, January 19th. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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