Agrium Inc. (NYSE:AGU) Stake Boosted by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. boosted its stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,700 shares of the basic materials company’s stock after buying an additional 1,415 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Agrium were worth $4,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AGU. UBS Asset Management Americas Inc. raised its stake in shares of Agrium by 9.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 313,086 shares of the basic materials company’s stock valued at $31,508,000 after buying an additional 27,970 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Agrium by 0.7% in the first quarter. Raymond James Trust N.A. now owns 17,118 shares of the basic materials company’s stock valued at $1,635,000 after buying an additional 116 shares in the last quarter. Creative Planning raised its stake in shares of Agrium by 6.1% in the first quarter. Creative Planning now owns 2,746 shares of the basic materials company’s stock valued at $262,000 after buying an additional 159 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Agrium by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 41,408 shares of the basic materials company’s stock valued at $3,946,000 after buying an additional 580 shares in the last quarter. Finally, 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 valued at $384,097,000 after buying an additional 791,000 shares in the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

Shares of Agrium Inc. (NYSE AGU) opened at 97.19 on Friday. The firm has a market capitalization of $13.43 billion, a P/E ratio of 23.45 and a beta of 0.62. Agrium Inc. has a 52-week low of $87.78 and a 52-week high of $111.88. The firm has a 50-day moving average price of $97.67 and a 200-day moving average price of $95.77.

The business 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 $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, September 28th. Agrium’s dividend payout ratio is currently 84.34%.

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AGU has been the subject of several research analyst reports. Credit Suisse Group reissued a “hold” rating and issued a $91.00 price objective on shares of Agrium in a report on Friday, April 21st. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 target price on shares of Agrium in a report on Tuesday, May 2nd. TD Securities set a $99.00 target price on Agrium and gave the company a “hold” rating in a report on Wednesday, May 3rd. Citigroup Inc. lowered their target price on Agrium from $104.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, May 9th. Finally, Vertical Research raised Agrium from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $104.31.

About Agrium

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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