Sit Investment Associates Inc. Has $11,302,000 Stake in Agrium Inc. (AGU)
Sit Investment Associates Inc. decreased its stake in Agrium Inc. (NYSE:AGU) by 65.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 125,000 shares of the company’s stock after selling 236,905 shares during the period. Sit Investment Associates Inc. owned about 0.09% of Agrium worth $11,302,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of AGU. Wellington Management Group LLP boosted its stake in shares of Agrium by 13.6% in the first quarter. Wellington Management Group LLP now owns 3,532,573 shares of the company’s stock valued at $311,936,000 after buying an additional 424,215 shares in the last quarter. AXA boosted its position in shares of Agrium by 8.6% in the first quarter. AXA now owns 120,758 shares of the company’s stock worth $10,706,000 after buying an additional 9,565 shares in the last quarter. Bank of Nova Scotia Trust Co. boosted its position in shares of Agrium by 9.5% in the first quarter. Bank of Nova Scotia Trust Co. now owns 82,364 shares of the company’s stock worth $7,271,000 after buying an additional 7,146 shares in the last quarter. UBS Group AG boosted its position in shares of Agrium by 4.3% in the first quarter. UBS Group AG now owns 237,515 shares of the company’s stock worth $20,971,000 after buying an additional 9,841 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in shares of Agrium by 102.6% in the first quarter. BB&T Securities LLC now owns 6,529 shares of the company’s stock worth $576,000 after buying an additional 3,306 shares in the last quarter. Institutional investors own 69.38% of the company’s stock.
Shares of Agrium Inc. (NYSE:AGU) traded down 0.06% during trading on Thursday, hitting $89.92. 241,118 shares of the stock traded hands. Agrium Inc. has a 1-year low of $79.94 and a 1-year high of $100.24. The stock has a 50 day moving average price of $91.94 and a 200-day moving average price of $90.46. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 14.45 and a beta of 1.17.
Agrium (NYSE:AGU) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $4.18 EPS for the quarter, topping the consensus estimate of $4.08 by $0.10. The company earned $6.42 billion during the quarter, compared to the consensus estimate of $6.67 billion. Agrium had a net margin of 6.18% and a return on equity of 14.22%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.90 EPS. Equities analysts forecast that Agrium Inc. will post $5.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 3.89%. The ex-dividend date is Wednesday, September 28th. Agrium’s payout ratio is currently 55.73%.
A number of brokerages recently issued reports on AGU. Sanford C. Bernstein restated a “buy” rating on shares of Agrium in a report on Wednesday, August 31st. RBC Capital Markets restated an “outperform” rating on shares of Agrium in a report on Wednesday, August 31st. Credit Suisse Group AG restated a “buy” rating and set a $91.00 price objective on shares of Agrium in a report on Thursday, September 1st. BMO Capital Markets restated a “buy” rating and set a $100.00 price objective on shares of Agrium in a report on Thursday, June 9th. Finally, Credit Agricole SA cut shares of Agrium from an “underperform” rating to a “sell” rating and boosted their price objective for the company from $84.00 to $86.00 in a report on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $98.53.
Agrium Inc is a producer and distributor of agricultural products and services. The Company categorizes its segments within the Retail and Wholesale business units. The Retail business unit distributes crop nutrients, crop protection products, seed, merchandise and services directly to growers through a network of farm centers in two geographical segments: North America, which includes the United States and Canada, and International, which includes Australia and South America.
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