Harvey Capital Management Inc. Has $1,974,000 Stake in Agrium Inc. (AGU)
Harvey Capital Management Inc. continued to hold its position in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,820 shares of the basic materials company’s stock at the end of the second quarter. Harvey Capital Management Inc.’s holdings in Agrium were worth $1,974,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of AGU. Aperio Group LLC increased its position in shares of Agrium by 18.5% in the second quarter. Aperio Group LLC now owns 51,975 shares of the basic materials company’s stock valued at $4,703,000 after buying an additional 8,118 shares during the last quarter. Jarislowsky Fraser Ltd increased its position in shares of Agrium by 12.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,376 shares of the basic materials company’s stock valued at $305,000 after buying an additional 376 shares during the last quarter. V Wealth Management LLC acquired a new position in shares of Agrium during the second quarter valued at about $156,000. Cascade Investment Advisors Inc. increased its position in shares of Agrium by 0.5% in the second quarter. Cascade Investment Advisors Inc. now owns 18,185 shares of the basic materials company’s stock valued at $1,646,000 after buying an additional 85 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in shares of Agrium during the second quarter valued at about $2,030,000. 69.14% of the stock is currently owned by institutional investors.
Shares of Agrium Inc. (NYSE:AGU) traded up 0.03% during mid-day trading on Thursday, hitting $100.10. 289,194 shares of the company traded hands. The firm has a 50-day moving average price of $93.43 and a 200 day moving average price of $96.41. Agrium Inc. has a 52-week low of $87.75 and a 52-week high of $111.88. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 23.86 and a beta of 0.60.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be given a $0.875 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $3.50 dividend on an annualized basis and a yield of 3.50%. Agrium’s dividend payout ratio is presently 83.14%.
Several brokerages have issued reports on AGU. Royal Bank Of Canada set a $110.00 price objective on shares of Agrium and gave the stock an “outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus restated a “buy” rating and issued a $107.00 target price (down previously from $114.00) on shares of Agrium in a research note on Monday, July 10th. Scotiabank upgraded shares of Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, July 10th. Zacks Investment Research cut shares of Agrium from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, AltaCorp Capital restated a “sector perform” rating on shares of Agrium in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $103.71.
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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