D.A. Davidson & CO. Has $270,000 Position in Agrium Inc. (AGU)
D.A. Davidson & CO. increased its position in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 663.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,991 shares of the basic materials company’s stock after buying an additional 2,599 shares during the period. D.A. Davidson & CO.’s holdings in Agrium were worth $270,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in Agrium by 138.8% in the 1st 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 in the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Agrium by 11.4% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,715 shares of the basic materials company’s stock worth $155,000 after acquiring an additional 175 shares in the last quarter. V Wealth Management LLC bought a new position in Agrium in the second quarter worth approximately $156,000. Envestnet Asset Management Inc. boosted its holdings 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 worth $212,000 after acquiring an additional 103 shares in the last quarter. Finally, M&T Bank Corp bought a new position in Agrium in the first quarter worth approximately $234,000. 66.41% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on AGU. AltaCorp Capital reissued a “sector perform” rating on shares of Agrium in a research report on Thursday, June 22nd. Royal Bank Of Canada upped their price target on Agrium from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, September 15th. Scotiabank upgraded Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, July 10th. TD Securities raised Agrium from a “hold” rating to a “buy” rating and increased their price target for the company from $102.00 to $134.00 in a research report on Thursday, September 28th. Finally, Zacks Investment Research lowered Agrium from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $109.27.
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Agrium Inc. (NYSE AGU) opened at 107.02 on Wednesday. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 25.82 and a beta of 0.62. Agrium Inc. has a 12-month low of $87.78 and a 12-month high of $111.88. The firm’s 50-day moving average price is $101.87 and its 200-day moving average price is $96.17.
The company 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 dividend of $0.875 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.50 annualized dividend and a dividend yield of 3.27%. Agrium’s payout ratio is 84.34%.
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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