NorthCoast Asset Management LLC raised its position in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 121.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,818 shares of the basic materials company’s stock after acquiring an additional 20,745 shares during the period. NorthCoast Asset Management LLC’s holdings in Agrium were worth $3,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in Agrium by 138.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after buying an additional 909 shares during the period. V Wealth Management LLC purchased a new stake in Agrium during the 2nd quarter valued at $156,000. Envestnet Asset Management Inc. raised its holdings in Agrium by 4.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after buying an additional 103 shares during the period. M&T Bank Corp purchased a new stake in Agrium during the 1st quarter valued at $234,000. Finally, Independence Trust CO purchased a new stake in Agrium during the 2nd quarter valued at $271,000. 66.42% of the stock is currently owned by institutional investors and hedge funds.
AGU has been the topic of several research analyst reports. Scotiabank raised Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Agrium in a research report on Thursday, June 29th. AltaCorp Capital reaffirmed a “sector perform” rating on shares of Agrium in a research report on Thursday, June 22nd. Vertical Research raised Agrium from a “hold” rating to a “buy” rating in a research report on Friday, May 19th. Finally, Zacks Investment Research downgraded Agrium from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Agrium currently has an average rating of “Hold” and an average target price of $106.36.
Shares of Agrium Inc. (AGU) traded up 2.07% during mid-day trading on Friday, reaching $105.12. The company’s stock had a trading volume of 464,894 shares. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 25.36 and a beta of 0.62. Agrium Inc. has a 1-year low of $87.78 and a 1-year high of $111.88. The company’s 50 day moving average price is $99.03 and its 200-day moving average price is $95.19.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, September 28th. Agrium’s payout ratio is 84.34%.
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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