Parsec Financial Management Inc. boosted its position in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,965 shares of the basic materials company’s stock after buying an additional 5,770 shares during the period. Parsec Financial Management Inc. owned about 0.10% of Agrium worth $12,665,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Agrium by 138.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock worth $150,000 after buying an additional 909 shares during the period. V Wealth Management LLC purchased a new stake in shares of Agrium during the second quarter worth $156,000. Envestnet Asset Management Inc. increased its stake in shares of 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. M&T Bank Corp purchased a new stake in shares of Agrium during the first quarter worth $234,000. Finally, Creative Planning increased its stake in shares of Agrium by 6.1% in the first quarter. Creative Planning now owns 2,746 shares of the basic materials company’s stock worth $262,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 69.03% of the company’s stock.
Shares of Agrium Inc. (AGU) traded down 0.38% during midday trading on Thursday, hitting $98.21. The stock had a trading volume of 1,008,468 shares. Agrium Inc. has a 52 week low of $87.78 and a 52 week high of $111.88. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 23.41 and a beta of 0.62. The stock has a 50 day moving average price of $96.42 and a 200-day moving average price of $96.12.
A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $110.00 price target on Agrium and gave the company a “buy” rating in a report on Thursday, August 3rd. Citigroup Inc. lowered their price target on Agrium from $104.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, May 9th. Cowen and Company set a $99.00 price objective on Agrium and gave the company a “buy” rating in a research report on Friday, July 28th. TD Securities set a $99.00 price objective on Agrium and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Finally, Scotiabank restated a “sector perform” rating and set a $110.00 price objective on shares of Agrium in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $103.21.
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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