Level Four Advisory Services LLC reduced its holdings in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 38.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,598 shares of the basic materials company’s stock after selling 1,594 shares during the period. Level Four Advisory Services LLC’s holdings in Agrium were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Archford Capital Strategies LLC lifted its position in Agrium by 7,579.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 12,134 shares of the basic materials company’s stock valued at $1,450,000 after acquiring an additional 11,976 shares during the period. Afam Capital Inc. lifted its position in Agrium by 0.7% during the 2nd quarter. Afam Capital Inc. now owns 17,981 shares of the basic materials company’s stock valued at $1,627,000 after acquiring an additional 119 shares during the period. Verition Fund Management LLC purchased a new position in Agrium during the 2nd quarter valued at about $1,003,000. Scotia Capital Inc. lifted its position in Agrium by 10.5% during the 2nd quarter. Scotia Capital Inc. now owns 383,158 shares of the basic materials company’s stock valued at $34,640,000 after acquiring an additional 36,550 shares during the period. Finally, Bank of Nova Scotia lifted its position in Agrium by 10.7% during the 2nd quarter. Bank of Nova Scotia now owns 762,339 shares of the basic materials company’s stock valued at $69,101,000 after acquiring an additional 73,748 shares during the period. 66.31% of the stock is owned by institutional investors.

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Shares of Agrium Inc. (NYSE AGU) traded up 0.08% on Thursday, reaching $107.82. 38,455 shares of the company’s stock traded hands. Agrium Inc. has a 12-month low of $87.82 and a 12-month high of $111.88. The stock has a 50-day moving average price of $104.88 and a 200-day moving average price of $97.08. The company has a market cap of $14.90 billion, a PE ratio of 26.01 and a beta of 0.62.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, September 28th. Agrium’s payout ratio is 84.34%.

A number of research analysts recently issued reports on the stock. TD Securities raised shares of Agrium from a “hold” rating to a “buy” rating and lifted their price target for the company from $102.00 to $134.00 in a research report on Thursday, September 28th. Royal Bank Of Canada reissued a “buy” rating and set a $115.00 price target on shares of Agrium in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating and set a $123.00 price target on shares of Agrium in a research report on Thursday, October 12th. HSBC Holdings plc assumed coverage on shares of Agrium in a research report on Wednesday, October 11th. They set a “buy” rating and a $126.50 price target for the company. Finally, Zacks Investment Research cut shares of Agrium from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $112.50.

Agrium 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.

Institutional Ownership by Quarter for Agrium (NYSE:AGU)

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