Tdam USA Inc. decreased its stake in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,210 shares of the basic materials company’s stock after selling 640 shares during the period. Tdam USA Inc.’s holdings in Agrium were worth $471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Agrium during the first quarter valued at $55,636,000. Southpoint Capital Advisors LP acquired a new position in shares of Agrium during the first quarter valued at $33,443,000. Lincluden Management Ltd. acquired a new position in shares of Agrium during the first quarter valued at $32,511,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Agrium during the first quarter valued at $16,851,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Agrium by 91.9% in the first quarter. Bank of New York Mellon Corp now owns 548,168 shares of the basic materials company’s stock valued at $52,376,000 after buying an additional 262,478 shares in the last quarter. Institutional investors and hedge funds own 69.03% of the company’s stock.

Shares of Agrium Inc. (NYSE AGU) opened at 98.58 on Thursday. The stock has a market cap of $13.62 billion, a PE ratio of 23.49 and a beta of 0.62. The firm has a 50-day moving average of $96.42 and a 200 day moving average of $96.12. Agrium Inc. has a 52 week low of $87.78 and a 52 week high of $111.88.

Agrium (NYSE:AGU) (TSE:AGU) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $4.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.04 by $0.01. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.37 billion. Agrium had a net margin of 4.25% and a return on equity of 9.72%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.18 EPS. On average, equities analysts forecast that Agrium Inc. will post $4.90 EPS for the current fiscal year.

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Several research analysts have recently weighed in on AGU shares. Scotiabank upgraded shares of Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $110.00 price target on shares of Agrium in a research note on Thursday, June 29th. AltaCorp Capital reiterated a “sector perform” rating on shares of Agrium in a research note on Thursday, June 22nd. Citigroup Inc. dropped their price target on shares of Agrium from $104.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 9th. Finally, Vertical Research upgraded shares of Agrium from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $103.00.

Agrium Company Profile

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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Institutional Ownership by Quarter for Agrium (NYSE:AGU)

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