Stifel Nicolaus reiterated their buy rating on shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) in a research report sent to investors on Thursday. The brokerage currently has a $123.00 price objective on the basic materials company’s stock.
Several other brokerages have also recently commented on AGU. HSBC Holdings plc started coverage on shares of Agrium in a research note on Wednesday, October 11th. They issued a buy rating and a $126.50 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Agrium from $110.00 to $115.00 and gave the stock an outperform rating in a research note on Friday, September 15th. Zacks Investment Research cut shares of Agrium from a hold rating to a sell rating in a research note on Wednesday, October 11th. TD Securities upgraded shares of Agrium from a hold rating to a buy rating and boosted their price target for the stock from $102.00 to $134.00 in a research note on Thursday, September 28th. Finally, AltaCorp Capital reiterated a sector perform rating on shares of Agrium in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $112.50.
Agrium (NYSE:AGU) opened at 107.91 on Thursday. The company has a market cap of $14.91 billion, a PE ratio of 26.03 and a beta of 0.62. Agrium has a 1-year low of $87.82 and a 1-year high of $111.88. The company has a 50-day moving average price of $104.14 and a 200-day moving average price of $96.83.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be issued a dividend of $0.875 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.50 annualized dividend and a yield of 3.24%. Agrium’s payout ratio is 84.34%.
A number of large investors have recently modified their holdings of AGU. Dodge & Cox grew its holdings in Agrium by 33.2% during the 2nd quarter. Dodge & Cox now owns 5,644,826 shares of the basic materials company’s stock valued at $510,800,000 after purchasing an additional 1,407,700 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in Agrium during the 1st quarter valued at about $33,443,000. Lincluden Management Ltd. bought a new position in Agrium during the 1st quarter valued at about $32,511,000. Teachers Retirement System of The State of Kentucky bought a new position in Agrium during the 1st quarter valued at about $16,851,000. Finally, Lazard Asset Management LLC grew its holdings in Agrium by 47.0% during the 2nd quarter. Lazard Asset Management LLC now owns 855,774 shares of the basic materials company’s stock valued at $77,438,000 after purchasing an additional 273,485 shares during the last quarter. Institutional investors own 66.31% of the company’s stock.
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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