Franklin Resources Inc. lifted its stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 11.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,082,940 shares of the basic materials company’s stock after purchasing an additional 114,096 shares during the period. Franklin Resources Inc. owned about 0.78% of Agrium worth $98,180,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Agrium by 138.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 909 shares in the last quarter. V Wealth Management LLC purchased a new stake in shares of Agrium during the second quarter worth about $156,000. Envestnet Asset Management Inc. increased its stake in shares of Agrium by 4.8% during the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock worth $212,000 after purchasing an additional 103 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Agrium during the first quarter worth about $234,000. Finally, HighTower Advisors LLC increased its stake in shares of Agrium by 9.5% during the first quarter. HighTower Advisors LLC now owns 2,988 shares of the basic materials company’s stock worth $286,000 after purchasing an additional 260 shares in the last quarter. 66.42% of the stock is owned by institutional investors and hedge funds.
Agrium Inc. (AGU) opened at 102.55 on Tuesday. Agrium Inc. has a 12-month low of $87.78 and a 12-month high of $111.88. The firm has a 50-day moving average of $98.50 and a 200 day moving average of $94.96. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 24.74 and a beta of 0.62.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.875 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.50 annualized dividend and a yield of 3.41%. Agrium’s dividend payout ratio (DPR) is currently 84.34%.
AGU has been the subject of a number of research reports. Vertical Research raised shares of Agrium from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. AltaCorp Capital reissued a “sector perform” rating on shares of Agrium in a research note on Thursday, June 22nd. Royal Bank Of Canada reissued a “buy” rating and set a $110.00 target price on shares of Agrium in a research note on Thursday, June 29th. Zacks Investment Research cut shares of Agrium from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Scotiabank raised shares of Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, July 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Agrium has a consensus rating of “Hold” and an average price target of $104.31.
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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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