Neuberger Berman Group LLC cut its stake in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 579,011 shares of the basic materials company’s stock after selling 38,682 shares during the period. Neuberger Berman Group LLC owned approximately 0.42% of Agrium worth $52,395,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. increased its stake in shares of Agrium by 12.7% in the second quarter. GHP Investment Advisors Inc. now owns 11,039 shares of the basic materials company’s stock valued at $999,000 after buying an additional 1,240 shares during the last quarter. Minneapolis Portfolio Management Group LLC increased its stake in shares of Agrium by 1.6% in the second quarter. Minneapolis Portfolio Management Group LLC now owns 221,868 shares of the basic materials company’s stock valued at $20,077,000 after buying an additional 3,575 shares during the last quarter. Aviva PLC increased its stake in shares of Agrium by 1.1% in the second quarter. Aviva PLC now owns 86,904 shares of the basic materials company’s stock valued at $7,857,000 after buying an additional 960 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Agrium by 9.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 389,493 shares of the basic materials company’s stock valued at $35,238,000 after buying an additional 33,228 shares during the last quarter. Finally, Herndon Capital Management LLC increased its stake in shares of Agrium by 214.8% in the second quarter. Herndon Capital Management LLC now owns 13,746 shares of the basic materials company’s stock valued at $1,246,000 after buying an additional 9,380 shares during the last quarter. 66.42% of the stock is owned by institutional investors.

Agrium Inc. (AGU) opened at 98.35 on Friday. The company has a market cap of $13.59 billion, a P/E ratio of 23.73 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 $98.58 and its 200-day moving average price is $95.29.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Thursday, September 28th. Agrium’s dividend payout ratio (DPR) is presently 84.34%.

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Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $116.00 target price (up previously from $107.00) on shares of Agrium in a research report on Friday, August 11th. TD Securities increased their price target on Agrium from $99.00 to $102.00 and gave the company a “hold” rating in a report on Thursday, August 10th. Royal Bank Of Canada set a $110.00 price target on Agrium and gave the company a “buy” rating in a report on Thursday, August 3rd. Cowen and Company set a $99.00 price target on Agrium and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Scotiabank raised 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine 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 $104.31.

About Agrium

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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Institutional Ownership by Quarter for Agrium (NYSE:AGU)

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