Agrium Inc. (NYSE:AGU) (TSE:AGU)‘s stock had its “sector perform” rating restated by stock analysts at AltaCorp Capital in a report issued on Thursday.
A number of other brokerages have also issued reports on AGU. Credit Suisse Group reissued a “hold” rating and issued a $91.00 price target on shares of Agrium in a report on Friday, April 21st. Vertical Research raised shares of Agrium from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Sanford C. Bernstein started coverage on shares of Agrium in a report on Monday, March 6th. They issued an “outperform” rating and a $119.00 price target on the stock. Scotiabank reissued a “sector perform” rating and issued a $110.00 price target on shares of Agrium in a report on Tuesday, May 2nd. Finally, TD Securities set a $99.00 price target on shares of Agrium and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $103.92.
Shares of Agrium (AGU) traded up 0.4411% during mid-day trading on Thursday, reaching $92.7172. 311,173 shares of the company’s stock were exchanged. Agrium has a one year low of $87.62 and a one year high of $111.88. The company has a 50 day moving average price of $92.02 and a 200-day moving average price of $97.60. The stock has a market cap of $12.81 billion, a PE ratio of 22.0966 and a beta of 0.67.
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 paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, June 28th. Agrium’s payout ratio is 83.14%.
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Large investors have recently made changes to their positions in the stock. Beutel Goodman & Co Ltd. raised its stake in shares of Agrium by 4.7% in the first quarter. Beutel Goodman & Co Ltd. now owns 4,495,128 shares of the basic materials company’s stock worth $428,284,000 after buying an additional 200,460 shares during the last quarter. Dodge & Cox bought a new stake in shares of Agrium during the fourth quarter worth $445,660,000. Bank of Montreal Can raised its stake in shares of Agrium by 24.5% in the first quarter. Bank of Montreal Can now owns 4,019,852 shares of the basic materials company’s stock worth $384,097,000 after buying an additional 791,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Agrium by 6.3% in the first quarter. Vanguard Group Inc. now owns 3,137,729 shares of the basic materials company’s stock worth $299,810,000 after buying an additional 186,366 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Agrium by 7.8% in the first quarter. FMR LLC now owns 2,919,193 shares of the basic materials company’s stock worth $278,606,000 after buying an additional 212,287 shares during the last quarter. 69.53% of the stock is currently owned by hedge funds and other institutional investors.
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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