Herndon Capital Management LLC lowered its position in Agrium Inc. (NYSE:AGU) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 30,222 shares of the company’s stock after selling 946 shares during the period. Herndon Capital Management LLC’s holdings in Agrium were worth $2,728,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Agrium by 13.6% in the first quarter. Wellington Management Group LLP now owns 3,532,573 shares of the company’s stock worth $311,936,000 after buying an additional 424,215 shares during the last quarter. Bank of Montreal Can acquired a new position in Agrium during the second quarter worth about $273,853,000. Dodge & Cox boosted its position in Agrium by 33.1% in the first quarter. Dodge & Cox now owns 2,772,183 shares of the company’s stock worth $244,756,000 after buying an additional 689,800 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its position in Agrium by 202.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 1,474,695 shares of the company’s stock worth $132,730,000 after buying an additional 986,834 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Agrium by 4.0% in the first quarter. Legal & General Group Plc now owns 591,477 shares of the company’s stock worth $52,443,000 after buying an additional 22,663 shares during the last quarter. Hedge funds and other institutional investors own 69.07% of the company’s stock.
Agrium Inc. (NYSE:AGU) traded up 1.07% on Wednesday, hitting $90.92. The stock had a trading volume of 327,123 shares. Agrium Inc. has a 52 week low of $79.94 and a 52 week high of $100.24. The firm has a 50-day moving average of $91.56 and a 200 day moving average of $90.43. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 14.61 and a beta of 1.17.
Agrium (NYSE:AGU) last released its earnings results on Wednesday, August 3rd. The company reported $4.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.08 by $0.10. Agrium had a return on equity of 14.22% and a net margin of 6.18%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the company posted $4.90 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, analysts predict that Agrium Inc. will post $5.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Wednesday, September 28th. Agrium’s dividend payout ratio (DPR) is 55.73%.
A number of equities analysts recently issued reports on AGU shares. Zacks Investment Research upgraded Agrium from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 21st. Barclays PLC increased their target price on Agrium from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, August 18th. Citigroup Inc. increased their target price on Agrium from $87.00 to $91.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Agrium in a report on Friday, August 5th. Finally, RBC Capital Markets reiterated an “outperform” rating on shares of Agrium in a report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $100.78.
Agrium Company Profile
Agrium Inc is a producer and distributor of agricultural products and services. The Company categorizes its segments within the Retail and Wholesale business units. The Retail business unit distributes crop nutrients, crop protection products, seed, merchandise and services directly to growers through a network of farm centers in two geographical segments: North America, which includes the United States and Canada, and International, which includes Australia and South America.
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