Advisors Asset Management Inc. Has $940,000 Position in Agrium Inc. (AGU)
Advisors Asset Management Inc. increased its stake in shares of Agrium Inc. (NYSE:AGU) by 76.2% during the second quarter, Holdings Channel reports. The firm owned 10,401 shares of the company’s stock after buying an additional 4,497 shares during the period. Advisors Asset Management Inc.’s holdings in Agrium were worth $940,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of AGU. Bank of Montreal Can bought a new position in Agrium during the second quarter valued at about $273,853,000. Montrusco Bolton Investments Inc. raised its position in Agrium by 202.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 1,474,695 shares of the company’s stock valued at $132,730,000 after buying an additional 986,834 shares during the period. Dodge & Cox raised its position in Agrium by 33.1% in the first quarter. Dodge & Cox now owns 2,772,183 shares of the company’s stock valued at $244,756,000 after buying an additional 689,800 shares during the period. Emerald Acquisition Ltd. bought a new position in Agrium during the second quarter valued at about $44,528,000. Finally, Wellington Management Group LLP raised its position in 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 during the period. Institutional investors own 69.38% of the company’s stock.
Shares of Agrium Inc. (NYSE:AGU) traded up 0.12% on Wednesday, hitting $90.98. The stock had a trading volume of 415,965 shares. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 14.62 and a beta of 1.33. The firm’s 50-day moving average is $92.08 and its 200-day moving average is $90.35. Agrium Inc. has a one year low of $79.94 and a one year high of $100.24.
Agrium (NYSE:AGU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.10. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.67 billion. Agrium had a return on equity of 14.22% and a net margin of 6.18%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.90 EPS. On average, analysts expect that Agrium Inc. will post $5.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $3.50 dividend on an annualized basis and a yield of 3.85%. Agrium’s dividend payout ratio is presently 55.73%.
Several equities analysts have issued reports on AGU shares. Bank of America Corp. lowered Agrium from a “buy” rating to an “underperform” rating and set a $91.00 target price on the stock. in a research note on Tuesday, September 13th. Barclays PLC lifted their target price on Agrium from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. BMO Capital Markets lowered Agrium from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 13th. Scotiabank restated a “sector outperform” rating and set a $100.00 price target on shares of Agrium in a research note on Saturday, June 11th. Finally, Credit Agricole SA upgraded Agrium from a “sell” rating to an “underperform” rating in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. Agrium has a consensus rating of “Hold” and a consensus price target of $99.58.
Agrium Company Profile
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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