Summit Securities Group LLC Takes $598,000 Position in Agrium Inc. (AGU)
Summit Securities Group LLC acquired a new stake in Agrium Inc. (NYSE:AGU) (TSE:AGU) during the 4th quarter, HoldingsChannel reports. The firm acquired 5,200 shares of the basic materials company’s stock, valued at approximately $598,000.
Several other large investors also recently modified their holdings of the company. Afam Capital Inc. lifted its position in shares of Agrium by 0.7% in the second quarter. Afam Capital Inc. now owns 17,981 shares of the basic materials company’s stock valued at $1,627,000 after acquiring an additional 119 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Agrium by 5.4% during the second quarter. PNC Financial Services Group Inc. now owns 7,279 shares of the basic materials company’s stock worth $659,000 after buying an additional 372 shares during the period. Creative Planning lifted its position in Agrium by 16.4% during the fourth quarter. Creative Planning now owns 3,108 shares of the basic materials company’s stock worth $357,000 after buying an additional 437 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Agrium by 8.3% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 6,500 shares of the basic materials company’s stock worth $749,000 after buying an additional 500 shares during the period. Finally, Voya Investment Management LLC lifted its position in Agrium by 11.1% during the second quarter. Voya Investment Management LLC now owns 5,887 shares of the basic materials company’s stock worth $533,000 after buying an additional 589 shares during the period. Institutional investors and hedge funds own 66.94% of the company’s stock.
Several research firms recently weighed in on AGU. Cowen increased their target price on Agrium from $109.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Stephens began coverage on Agrium in a research report on Monday, December 4th. They set an “overweight” rating and a $131.00 target price on the stock. BMO Capital Markets reiterated a “hold” rating and set a $100.00 target price on shares of Agrium in a research report on Friday, October 6th. JPMorgan Chase & Co. reduced their target price on Agrium from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, November 24th. Finally, TD Securities reiterated a “buy” rating and set a $134.00 target price on shares of Agrium in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $113.71.
Agrium (NYSE:AGU) (TSE:AGU) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.22). The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.29 billion. Agrium had a negative return on equity of 4.44% and a negative net margin of 2.90%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. sell-side analysts anticipate that Agrium Inc. will post 4.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Friday, December 29th were paid a dividend of $0.875 per share. The ex-dividend date was Thursday, December 28th. This represents a $3.50 annualized dividend and a yield of 3.04%. Agrium’s dividend payout ratio is presently 89.74%.
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Agrium Inc is a Canada-based global producer and distributor of agricultural products, services and solutions. The Company produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of approximately 11 million tones. Agrium Inc supplies main products and services directly to growers, including crop nutrients, crop protection, seed, as well as agronomic and application services.
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