Agrium Inc. (NYSE:AGU) PT Set at $110.00 by Royal Bank Of Canada

Royal Bank Of Canada set a $110.00 price target on Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research report sent to investors on Friday, July 14th. The firm currently has an outperform rating on the basic materials company’s stock.

Several other brokerages have also recently commented on AGU. Scotiabank raised Agrium from a sector perform rating to an outperform rating and set a $110.00 target price on the stock in a report on Monday, July 10th. AltaCorp Capital restated a sector perform rating on shares of Agrium in a research report on Thursday, June 22nd. Citigroup Inc. decreased their price target on shares of Agrium from $104.00 to $100.00 and set a neutral rating on the stock in a research report on Tuesday, May 9th. Vertical Research upgraded shares of Agrium from a hold rating to a buy rating in a research report on Friday, May 19th. Finally, BMO Capital Markets reiterated a hold rating and set a $100.00 price objective on shares of Agrium in a research report on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $103.00.

Agrium (NYSE:AGU) traded up 0.65% during midday trading on Friday, hitting $99.65. The company had a trading volume of 177,814 shares. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 23.75 and a beta of 0.60. Agrium has a 12-month low of $87.75 and a 12-month high of $111.88. The company’s 50 day moving average is $94.79 and its 200 day moving average is $96.38.

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The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Friday, June 30th were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Wednesday, June 28th. Agrium’s dividend payout ratio is 83.14%.

Several hedge funds and other institutional investors have recently bought and sold shares of AGU. Probity Advisors Inc. increased its position in Agrium by 0.4% in the second quarter. Probity Advisors Inc. now owns 9,799 shares of the basic materials company’s stock valued at $887,000 after buying an additional 41 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake 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 last quarter. World Asset Management Inc boosted its stake 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 last quarter. Jarislowsky Fraser Ltd boosted its stake 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 last quarter. Finally, Comerica Bank boosted its stake 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 last quarter. Institutional investors own 69.28% of the company’s stock.

About Agrium

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.