Agrium Inc. (AGU) Stake Reduced by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC cut its stake in Agrium Inc. (NYSE:AGU) by 67.6% during the second quarter, Holdings Channel reports. The institutional investor owned 3,355 shares of the company’s stock after selling 6,986 shares during the period. Tower Research Capital LLC TRC’s holdings in Agrium were worth $303,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AGU. Legal & General Group Plc increased its position in shares of Agrium by 4.0% in the first quarter. Legal & General Group Plc now owns 591,477 shares of the company’s stock valued at $52,443,000 after buying an additional 22,663 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Agrium during the second quarter valued at approximately $273,853,000. Dodge & Cox increased its position in shares of 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 in the last quarter. AMP Capital Investors Ltd increased its position in shares of Agrium by 39.2% in the first quarter. AMP Capital Investors Ltd now owns 49,712 shares of the company’s stock valued at $4,503,000 after buying an additional 13,996 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Agrium by 9.2% in the first quarter. Jones Financial Companies Lllp now owns 3,310 shares of the company’s stock valued at $292,000 after buying an additional 279 shares in the last quarter. 69.38% of the stock is currently owned by institutional investors.
Shares of Agrium Inc. (NYSE:AGU) opened at 90.87 on Wednesday. Agrium Inc. has a 12-month low of $79.94 and a 12-month high of $100.24. The company has a 50-day moving average price of $92.08 and a 200-day moving average price of $90.35. The company has a market cap of $12.56 billion, a P/E ratio of 14.60 and a beta of 1.33.
Agrium (NYSE:AGU) last issued its earnings results on Wednesday, August 3rd. The company reported $4.18 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company’s 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 predict that Agrium Inc. will post $5.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Wednesday, September 28th. Agrium’s dividend payout ratio is presently 55.73%.
AGU has been the topic of several recent analyst reports. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Agrium in a research report on Wednesday, August 31st. Credit Agricole SA upgraded Agrium from an “underperform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research report on Tuesday, September 13th. Cleveland Research restated a “neutral” rating on shares of Agrium in a research report on Wednesday, September 14th. Credit Suisse Group AG restated a “buy” rating and set a $91.00 price objective on shares of Agrium in a research report on Thursday, September 1st. Finally, BMO Capital Markets restated a “buy” rating and set a $95.00 price objective on shares of Agrium in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $99.58.
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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