Barings LLC Has $16,377,000 Holdings in Agrium Inc. (AGU)
Barings LLC maintained its stake in Agrium Inc. (NYSE:AGU) (TSE:AGU) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,401 shares of the basic materials company’s stock at the close of the second quarter. Barings LLC owned about 0.12% of Agrium worth $16,377,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its stake in Agrium by 2.7% during the 1st quarter. US Bancorp DE now owns 4,248 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 111 shares during the last quarter. Comerica Bank boosted its holdings in Agrium by 1.2% in the 1st quarter. Comerica Bank now owns 8,519 shares of the basic materials company’s stock valued at $809,000 after purchasing an additional 103 shares during the period. Sei Investments Co. boosted its holdings in Agrium by 6.0% in the 1st quarter. Sei Investments Co. now owns 27,426 shares of the basic materials company’s stock valued at $2,621,000 after purchasing an additional 1,549 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Agrium by 61.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 59,501 shares of the basic materials company’s stock valued at $5,685,000 after purchasing an additional 22,717 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Agrium by 4.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 103 shares during the period. 66.41% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on AGU shares. AltaCorp Capital reaffirmed a “sector perform” rating on shares of Agrium in a research report on Thursday, June 22nd. Royal Bank Of Canada lifted their target price on Agrium from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. Scotiabank raised Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, July 10th. TD Securities upgraded Agrium from a “hold” rating to a “buy” rating and boosted their price target for the company from $102.00 to $134.00 in a research note on Thursday, September 28th. Finally, Zacks Investment Research cut Agrium from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $109.27.
Agrium Inc. (NYSE AGU) traded down 0.13% on Tuesday, reaching $106.87. 66,914 shares of the company traded hands. The company has a market capitalization of $14.77 billion, a PE ratio of 25.78 and a beta of 0.62. Agrium Inc. has a 52-week low of $87.78 and a 52-week high of $111.88. The stock has a 50-day moving average of $101.62 and a 200 day moving average of $96.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, September 28th. Agrium’s payout ratio is 84.34%.
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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