Agrium Inc. (AGU) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) have been given a consensus recommendation of “Hold” by the twenty ratings firms that are currently covering the stock. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $103.85.

AGU has been the topic of several research reports. Zacks Investment Research lowered shares of Agrium from a “hold” rating to a “sell” rating in a report on Friday, January 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $110.00 price objective (up previously from $105.00) on shares of Agrium in a report on Monday, February 13th. Sanford C. Bernstein initiated coverage on shares of Agrium in a report on Monday, March 6th. They set an “outperform” rating and a $119.00 price objective on the stock. Cowen and Company upgraded shares of Agrium from a “market perform” rating to an “outperform” rating and set a $109.00 price objective on the stock in a report on Tuesday, January 24th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $91.00 price objective on shares of Agrium in a report on Friday, April 21st.

Agrium (NYSE:AGU) opened at 92.52 on Monday. The stock’s 50 day moving average price is $92.39 and its 200-day moving average price is $98.21. Agrium has a one year low of $87.62 and a one year high of $111.88. The stock has a market cap of $12.78 billion, a P/E ratio of 22.05 and a beta of 0.83.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Friday, June 30th will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, June 28th. Agrium’s dividend payout ratio is currently 81.21%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGU. Willingdon Wealth Management increased its position in Agrium by 22.8% in the third quarter. Willingdon Wealth Management now owns 14,752 shares of the basic materials company’s stock worth $1,338,000 after buying an additional 2,738 shares in the last quarter. APG Asset Management N.V. increased its position in Agrium by 26.5% in the third quarter. APG Asset Management N.V. now owns 241,773 shares of the basic materials company’s stock worth $28,735,000 after buying an additional 50,600 shares in the last quarter. State of Wisconsin Investment Board increased its position in Agrium by 56.2% in the third quarter. State of Wisconsin Investment Board now owns 215,844 shares of the basic materials company’s stock worth $19,519,000 after buying an additional 77,700 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in Agrium by 6.4% in the third quarter. Nikko Asset Management Americas Inc. now owns 191,538 shares of the basic materials company’s stock worth $17,371,000 after buying an additional 11,600 shares in the last quarter. Finally, World Asset Management Inc increased its position in Agrium by 8.1% in the third quarter. World Asset Management Inc now owns 9,238 shares of the basic materials company’s stock worth $838,000 after buying an additional 690 shares in the last quarter. 70.13% of the stock is owned by hedge funds and other institutional investors.

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.

12 Month Chart for NYSE:AGU

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