Public Sector Pension investment Board Increases Position in Agrium Inc. (AGU)
Public Sector Pension investment Board boosted its position in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 23.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,642 shares of the basic materials company’s stock after buying an additional 51,800 shares during the period. Public Sector Pension investment Board owned approximately 0.20% of Agrium worth $24,764,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AGU. Tower Research Capital LLC TRC boosted its stake in Agrium by 138.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after buying an additional 909 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Agrium by 11.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,715 shares of the basic materials company’s stock valued at $155,000 after buying an additional 175 shares during the last quarter. V Wealth Management LLC bought a new position in Agrium during the second quarter valued at approximately $156,000. Envestnet Asset Management Inc. boosted its stake in Agrium by 4.8% during the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after buying an additional 103 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Agrium during the first quarter valued at approximately $234,000. 66.41% of the stock is owned by institutional investors.
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Shares of Agrium Inc. (NYSE:AGU) traded down 0.12% during midday trading on Wednesday, hitting $108.36. The stock had a trading volume of 167,857 shares. Agrium Inc. has a 52-week low of $87.78 and a 52-week high of $111.88. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 26.14 and a beta of 0.62. The firm’s 50 day moving average price is $99.51 and its 200 day moving average price is $95.35.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, September 28th. Agrium’s dividend payout ratio is currently 84.34%.
A number of brokerages recently commented on AGU. Royal Bank Of Canada increased their price target on Agrium from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, September 15th. OTR Global raised Agrium to a “neutral” rating in a research note on Tuesday, September 12th. Cowen and Company set a $99.00 price target on Agrium and gave the company a “buy” rating in a research note on Friday, July 28th. TD Securities increased their price target on Agrium from $99.00 to $102.00 and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $116.00 price target (up from $107.00) on shares of Agrium in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $106.36.
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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