Agrium Inc. (AGU) Stake Maintained by BARING ASSET MANAGEMENT Ltd
BARING ASSET MANAGEMENT Ltd continued to hold its position in Agrium Inc. (NYSE:AGU) (TSE:AGU) during the second quarter, according to its most recent filing with the SEC. The institutional investor 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 investment portfolio, making the stock its 25th largest position. BARING ASSET MANAGEMENT Ltd’s holdings in Agrium were worth $14,109,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AGU. Tower Research Capital LLC TRC raised its position in 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 valued at $150,000 after buying an additional 909 shares during the last quarter. V Wealth Management LLC bought a new position in Agrium during the second quarter valued at about $156,000. 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 valued at $212,000 after buying an additional 103 shares during the last quarter. M&T Bank Corp bought a new position in Agrium during the first quarter valued at about $234,000. Finally, Creative Planning raised its position in Agrium by 6.1% in the first quarter. Creative Planning now owns 2,746 shares of the basic materials company’s stock valued at $262,000 after buying an additional 159 shares during the last quarter. Institutional investors own 68.42% of the company’s stock.
Shares of Agrium Inc. (AGU) opened at 98.87 on Wednesday. Agrium Inc. has a 1-year low of $87.78 and a 1-year high of $111.88. The firm has a 50-day moving average price of $97.10 and a 200 day moving average price of $95.78. The company has a market cap of $13.66 billion, a PE ratio of 23.85 and a beta of 0.62.
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 paid a $0.875 dividend. The ex-dividend date is Thursday, September 28th. This represents a $3.50 dividend on an annualized basis and a yield of 3.56%. Agrium’s dividend payout ratio (DPR) is presently 84.34%.
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Several equities analysts have recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $116.00 target price (up from $107.00) on shares of Agrium in a research report on Friday, August 11th. TD Securities boosted their target price on Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a research report on Thursday, August 10th. Royal Bank Of Canada set a $110.00 target price on Agrium and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company set a $99.00 target price on Agrium and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered Agrium from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $103.86.
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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