Addenda Capital Inc. boosted its stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,643 shares of the basic materials company’s stock after buying an additional 3,790 shares during the period. Addenda Capital Inc.’s holdings in Agrium were worth $3,713,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Agrium by 6.3% in the first quarter. Vanguard Group Inc. now owns 3,137,729 shares of the basic materials company’s stock valued at $299,810,000 after buying an additional 186,366 shares in the last quarter. FMR LLC raised its stake in Agrium by 7.8% in the first quarter. FMR LLC now owns 2,919,193 shares of the basic materials company’s stock valued at $278,606,000 after buying an additional 212,287 shares in the last quarter. TD Asset Management Inc. raised its stake in Agrium by 4.9% in the second quarter. TD Asset Management Inc. now owns 2,276,598 shares of the basic materials company’s stock valued at $206,028,000 after buying an additional 107,154 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Agrium by 7.5% in the first quarter. Artisan Partners Limited Partnership now owns 1,511,667 shares of the basic materials company’s stock valued at $144,440,000 after buying an additional 105,045 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Agrium by 15.0% in the first quarter. Van ECK Associates Corp now owns 1,438,954 shares of the basic materials company’s stock valued at $137,492,000 after buying an additional 188,199 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.
Agrium Inc. (NYSE:AGU) opened at 97.21 on Friday. The stock has a market cap of $13.43 billion, a PE ratio of 23.45 and a beta of 0.62. The stock has a 50 day moving average price of $97.48 and a 200 day moving average price of $95.81. Agrium Inc. has a 1-year low of $87.78 and a 1-year high of $111.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be given a $0.875 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.60%. Agrium’s payout ratio is 84.34%.
Several equities research analysts recently weighed in on AGU shares. Credit Suisse Group restated a “hold” rating and set a $91.00 price target on shares of Agrium in a research report on Friday, April 21st. Vertical Research upgraded Agrium from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $110.00 price objective on shares of Agrium in a research note on Thursday, June 29th. AltaCorp Capital reiterated a “sector perform” rating on shares of Agrium in a research note on Thursday, June 22nd. Finally, Scotiabank upgraded Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Agrium currently has a consensus rating of “Hold” and an average 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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