Vanguard Group Inc. Boosts Position in Agrium Inc. (AGU)
Vanguard Group Inc. increased its stake in shares of Agrium Inc. (NYSE:AGU) by 11.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,774,380 shares of the company’s stock after buying an additional 274,556 shares during the period. Vanguard Group Inc. owned 2.01% of Agrium worth $250,860,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of AGU. Bank of Montreal Can bought a new stake in Agrium during the second quarter valued at $273,853,000. Legal & General Group Plc boosted its stake in 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 during the last quarter. Cumberland Partners Ltd boosted its stake in Agrium by 41.3% in the second quarter. Cumberland Partners Ltd now owns 288,582 shares of the company’s stock valued at $25,930,000 after buying an additional 84,337 shares during the last quarter. Dodge & Cox boosted its stake 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 last quarter. Finally, AMP Capital Investors Ltd boosted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Agrium Inc. (NYSE:AGU) opened at 89.05 on Thursday. Agrium Inc. has a one year low of $79.94 and a one year high of $100.24. The company’s 50-day moving average is $91.69 and its 200-day moving average is $90.42. The firm has a market capitalization of $12.30 billion, a P/E ratio of 14.31 and a beta of 1.17.
Agrium (NYSE:AGU) last posted 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 analysts’ expectations of $6.67 billion. Agrium had a return on equity of 14.22% and a net margin of 6.18%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.90 EPS. Equities analysts forecast that Agrium Inc. will post $5.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Wednesday, September 28th. Agrium’s payout ratio is 55.73%.
Several research analysts have recently issued reports on AGU shares. Credit Agricole SA raised shares of Agrium from an “underperform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Tuesday, September 13th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Agrium in a research note on Wednesday, August 31st. Cleveland Research reaffirmed a “neutral” rating on shares of Agrium in a research note on Wednesday, September 14th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $91.00 target price on shares of Agrium in a research note on Thursday, September 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 target price on shares of Agrium in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $100.78.
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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