Royal Bank Of Canada set a $110.00 target price on Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research note published on Friday. The firm currently has an outperform rating on the basic materials company’s stock.
A number of other research firms have also recently weighed in on AGU. Credit Suisse Group reissued a hold rating and set a $91.00 price objective on shares of Agrium in a report on Friday, April 21st. Vertical Research raised shares of Agrium from a hold rating to a buy rating in a report on Friday, May 19th. AltaCorp Capital reissued a sector perform rating on shares of Agrium in a report on Thursday, June 22nd. Scotiabank raised shares of Agrium from a sector perform rating to an outperform rating and set a $110.00 price objective on the stock in a report on Monday, July 10th. Finally, Zacks Investment Research cut shares of Agrium from a hold rating to a sell rating in a report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $103.71.
Agrium (AGU) traded down 0.71% on Friday, hitting $97.75. 213,311 shares of the company traded hands. Agrium has a 12 month low of $87.75 and a 12 month high of $111.88. The stock’s 50-day moving average is $92.11 and its 200 day moving average is $97.03. The firm has a market capitalization of $13.51 billion, a P/E ratio of 23.30 and a beta of 0.60.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be given a $0.875 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $3.50 dividend on an annualized basis and a yield of 3.56%. Agrium’s dividend payout ratio (DPR) is 83.14%.
Institutional investors have recently bought and sold shares of the stock. Cascade Investment Advisors Inc. raised its position in Agrium by 0.5% in the second quarter. Cascade Investment Advisors Inc. now owns 18,185 shares of the basic materials company’s stock worth $1,646,000 after buying an additional 85 shares during the period. World Asset Management Inc raised its position in Agrium by 1.0% in the first quarter. World Asset Management Inc now owns 8,607 shares of the basic materials company’s stock worth $822,000 after buying an additional 86 shares during the period. Jarislowsky Fraser Ltd raised its position in Agrium by 3.2% in the first quarter. Jarislowsky Fraser Ltd now owns 3,000 shares of the basic materials company’s stock worth $285,000 after buying an additional 92 shares during the period. Comerica Bank raised its position in Agrium by 1.2% in the first quarter. Comerica Bank now owns 8,519 shares of the basic materials company’s stock worth $809,000 after buying an additional 103 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Agrium by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock worth $212,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.
Agrium Company 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.
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