Dodge & Cox Grows Stake in Agrium Inc. (AGU)

Dodge & Cox increased its stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 33.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,644,826 shares of the basic materials company’s stock after purchasing an additional 1,407,700 shares during the period. Dodge & Cox owned approximately 4.09% of Agrium worth $510,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Agrium by 138.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 909 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Agrium by 11.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,715 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 175 shares during the last quarter. V Wealth Management LLC purchased a new position in shares of Agrium during the second quarter valued at approximately $156,000. Envestnet Asset Management Inc. raised its holdings in shares of Agrium by 4.8% during the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 103 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Agrium during the first quarter valued at approximately $234,000. 66.41% of the stock is owned by hedge funds and other institutional investors.

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Shares of Agrium Inc. (NYSE:AGU) traded up 0.90% during mid-day trading on Friday, hitting $108.39. 49,101 shares of the stock were exchanged. Agrium Inc. has a 52-week low of $87.78 and a 52-week high of $111.88. The stock’s 50-day moving average price is $99.51 and its 200-day moving average price is $95.35. The company has a market cap of $14.98 billion, a P/E ratio of 26.15 and a beta of 0.62.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Thursday, September 28th. Agrium’s dividend payout ratio (DPR) is 84.34%.

A number of brokerages have commented on AGU. OTR Global raised shares of Agrium to a “neutral” rating in a report on Tuesday, September 12th. Royal Bank Of Canada set a $110.00 target price on shares of Agrium and gave the company a “buy” rating in a report on Thursday, August 3rd. Cowen and Company set a $99.00 target price on shares of Agrium and gave the company a “buy” rating in a report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $116.00 target price (up from $107.00) on shares of Agrium in a report on Friday, August 11th. Finally, TD Securities upped their target price on shares of Agrium from $99.00 to $102.00 and gave the company a “hold” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $106.36.

Agrium Profile

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.

Institutional Ownership by Quarter for Agrium (NYSE:AGU)

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