Agrium Inc. (AGU) Stake Reduced by Intact Investment Management Inc.
Intact Investment Management Inc. decreased its position in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 557,250 shares of the basic materials company’s stock after selling 35,100 shares during the period. Agrium accounts for approximately 2.9% of Intact Investment Management Inc.’s holdings, making the stock its 10th largest position. Intact Investment Management Inc. owned 0.40% of Agrium worth $65,326,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of 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 worth $150,000 after buying an additional 909 shares in the last quarter. V Wealth Management LLC acquired a new position in shares of Agrium during the second quarter worth approximately $156,000. Envestnet Asset Management Inc. boosted its position in shares of 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 buying an additional 103 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Agrium during the first quarter worth approximately $234,000. Finally, HighTower Advisors LLC boosted its position in shares of Agrium by 9.5% in the first quarter. HighTower Advisors LLC now owns 2,988 shares of the basic materials company’s stock worth $286,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 66.42% of the company’s stock.
Agrium Inc. (AGU) traded up 0.32% on Friday, reaching $98.35. 171,746 shares of the company traded hands. The stock has a 50-day moving average of $98.58 and a 200 day moving average of $95.29. Agrium Inc. has a 52-week low of $87.78 and a 52-week high of $111.88. The company has a market capitalization of $13.59 billion, a PE ratio of 23.73 and a beta of 0.62.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 28th. Agrium’s payout ratio is 84.34%.
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A number of brokerages have commented on AGU. Stifel Nicolaus restated a “buy” rating and set a $116.00 price target (up previously from $107.00) on shares of Agrium in a research note on Friday, August 11th. TD Securities raised their price target on shares of Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday, August 10th. Royal Bank Of Canada set a $110.00 price target on shares of Agrium and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company set a $99.00 price target on shares of Agrium and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Agrium from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $104.31.
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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