BARING ASSET MANAGEMENT Ltd held its stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,916 shares of the basic materials company’s stock at the end of the second quarter. Agrium accounts for approximately 0.9% of BARING ASSET MANAGEMENT Ltd’s portfolio, making the stock its 25th largest position. BARING ASSET MANAGEMENT Ltd owned 0.11% of Agrium worth $14,109,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Creative Planning boosted 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. Gulf International Bank UK Ltd boosted its stake in shares of Agrium by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 41,408 shares of the basic materials company’s stock worth $3,946,000 after buying an additional 580 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Agrium by 14.1% in the first quarter. Capstone Asset Management Co. now owns 13,181 shares of the basic materials company’s stock worth $1,259,000 after buying an additional 1,630 shares during the period. Harvey Capital Management Inc. acquired a new stake in shares of Agrium during the first quarter worth $2,084,000. Finally, Granite Investment Advisors LLC boosted its stake in shares of Agrium by 7.1% in the first quarter. Granite Investment Advisors LLC now owns 126,982 shares of the basic materials company’s stock worth $12,133,000 after buying an additional 8,398 shares during the period. 68.42% of the stock is currently owned by institutional investors.
Agrium Inc. (NYSE:AGU) opened at 98.87 on Wednesday. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 23.85 and a beta of 0.62. The stock’s 50 day moving average is $97.10 and its 200 day moving average is $95.78. Agrium Inc. has a 52-week low of $87.78 and a 52-week high of $111.88.
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 issued a dividend of $0.875 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.50 annualized dividend and a yield of 3.56%. Agrium’s dividend payout ratio is currently 84.34%.
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A number of analysts have weighed in on AGU shares. Credit Suisse Group reissued a “hold” rating and set a $91.00 target price on shares of Agrium in a report on Friday, April 21st. Scotiabank reissued a “sector perform” rating and set a $110.00 target price on shares of Agrium in a report on Tuesday, May 2nd. TD Securities set a $99.00 target price on shares of Agrium and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Citigroup Inc. dropped their target price on shares of Agrium from $104.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, May 9th. Finally, Vertical Research raised shares of Agrium from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $103.86.
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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