Agrium Inc. (AGU) Earns Hold Rating from BMO Capital Markets
BMO Capital Markets reissued their hold rating on shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research note published on Friday morning. BMO Capital Markets currently has a $100.00 price objective on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the company. 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. Royal Bank Of Canada reaffirmed a buy rating and issued a $110.00 price target on shares of Agrium in a research report on Thursday, June 29th. Stifel Nicolaus reaffirmed a buy rating and issued a $107.00 price target (down previously from $114.00) on shares of Agrium in a research report on Monday, July 10th. Cowen and Company set a $99.00 price target on Agrium and gave the company a buy rating in a research report on Friday, July 28th. Finally, OTR Global raised Agrium to a neutral rating in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Agrium currently has an average rating of Hold and an average target price of $109.27.
Shares of Agrium (NYSE AGU) opened at 105.73 on Friday. Agrium has a one year low of $87.78 and a one year high of $111.88. The firm’s 50-day moving average is $102.57 and its 200-day moving average is $96.39. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 25.51 and a beta of 0.62.
The firm also recently announced 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. This represents a $3.50 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, September 28th. Agrium’s dividend payout ratio (DPR) is presently 84.34%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Agrium by 138.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 909 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Agrium by 11.4% during the 2nd 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 acquired a new stake in shares of Agrium during the 2nd quarter worth about $156,000. Envestnet Asset Management Inc. raised its position in shares of Agrium by 4.8% during the 1st 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 acquired a new stake in shares of Agrium during the 1st quarter worth about $234,000. 66.41% of the stock is currently owned by institutional investors and hedge funds.
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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