Agrium Inc. (AGU) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. cut its position in shares of Agrium Inc. (NYSE:AGU) by 73.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,066 shares of the company’s stock after selling 147,040 shares during the period. JPMorgan Chase & Co.’s holdings in Agrium were worth $4,887,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AGU. Huntington National Bank raised its position in Agrium by 0.4% in the second quarter. Huntington National Bank now owns 1,773 shares of the company’s stock worth $160,000 after buying an additional 7 shares during the period. Regentatlantic Capital LLC raised its position in Agrium by 0.3% in the second quarter. Regentatlantic Capital LLC now owns 5,702 shares of the company’s stock worth $516,000 after buying an additional 15 shares during the period. Hudson Canyon Investment Counselors LLC raised its position in Agrium by 0.3% in the second quarter. Hudson Canyon Investment Counselors LLC now owns 9,214 shares of the company’s stock worth $833,000 after buying an additional 25 shares during the period. 1st Global Advisors Inc. raised its position in Agrium by 4.0% in the second quarter. 1st Global Advisors Inc. now owns 2,691 shares of the company’s stock worth $243,000 after buying an additional 103 shares during the period. Finally, Wedbush Securities Inc. raised its position in Agrium by 7.9% in the second quarter. Wedbush Securities Inc. now owns 2,480 shares of the company’s stock worth $224,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Shares of Agrium Inc. (NYSE:AGU) traded up 0.40% during midday trading on Friday, hitting $89.67. The stock had a trading volume of 28,106 shares. Agrium Inc. has a one year low of $79.94 and a one year high of $100.24. The company has a market cap of $12.39 billion, a P/E ratio of 14.41 and a beta of 1.17. The firm has a 50 day moving average of $91.62 and a 200-day moving average of $90.41.
Agrium (NYSE:AGU) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $4.18 EPS for the quarter, topping the consensus estimate of $4.08 by $0.10. Agrium had a net margin of 6.18% and a return on equity of 14.22%. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the company posted $4.90 earnings per share. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, analysts forecast that Agrium Inc. will post $5.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $3.50 annualized dividend and a dividend yield of 3.92%. Agrium’s payout ratio is 55.73%.
A number of research analysts recently issued reports on the company. TheStreet upgraded Agrium from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Citigroup Inc. lifted their target price on Agrium from $91.00 to $93.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Agrium from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 5th. AltaCorp Capital cut Agrium from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 21st. Finally, Barclays PLC raised their price target on Agrium from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average 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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