Janney Montgomery Scott LLC boosted its stake in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 13.6% during the second quarter, Holdings Channel reports. The fund owned 22,079 shares of the basic materials company’s stock after buying an additional 2,638 shares during the period. Janney Montgomery Scott LLC’s holdings in Agrium were worth $1,998,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Agrium by 138.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after buying an additional 909 shares during the last quarter. V Wealth Management LLC purchased a new stake in shares of Agrium during the second quarter valued at $156,000. Envestnet Asset Management Inc. raised its stake in shares of Agrium by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock valued at $212,000 after buying an additional 103 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Agrium during the first quarter valued at $234,000. Finally, 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 during the last quarter. 69.03% of the stock is currently owned by institutional investors.
Agrium Inc. (NYSE:AGU) opened at 98.84 on Tuesday. The company has a market cap of $13.66 billion, a P/E ratio of 23.56 and a beta of 0.62. The firm has a 50-day moving average price of $95.34 and a 200 day moving average price of $96.17. Agrium Inc. has a 12 month low of $87.75 and a 12 month high of $111.88.
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Several brokerages have recently weighed in on AGU. Cowen and Company set a $99.00 price objective on Agrium and gave the stock a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada set a $110.00 price target on Agrium and gave the company a “buy” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $107.00 price target (down previously from $114.00) on shares of Agrium in a research note on Monday, July 10th. Zacks Investment Research lowered Agrium from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 price target on shares of Agrium in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Agrium currently has a consensus rating of “Hold” and an average target price of $103.00.
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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