Verity Asset Management Inc. Bought Shares of 5,582 Agrium Inc. (AGU)

Verity Asset Management Inc. Bought Shares of 5,582 Agrium Inc. (AGU)

Verity Asset Management Inc. bought a new stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) during the first quarter, Holdings Channel reports. The institutional investor bought 5,582 shares of the basic materials company’s stock, valued at approximately $533,000.

A number of other hedge funds have also modified their holdings of AGU. Envestnet Asset Management Inc. increased 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 in the last quarter. M&T Bank Corp acquired a new stake in shares of Agrium during the first quarter valued at approximately $234,000. Creative Planning increased 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. Jarislowsky Fraser Ltd increased its stake in shares of Agrium by 3.2% in the first quarter. Jarislowsky Fraser Ltd now owns 3,000 shares of the basic materials company’s stock valued at $285,000 after buying an additional 92 shares in the last quarter. Finally, Gideon Capital Advisors Inc. acquired a new stake in shares of Agrium during the fourth quarter valued at approximately $308,000. Institutional investors and hedge funds own 70.13% of the company’s stock.

Shares of Agrium Inc. (NYSE AGU) traded up 0.77% during trading on Thursday, reaching $93.04. The company had a trading volume of 100,824 shares. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 22.17 and a beta of 0.83. Agrium Inc. has a 1-year low of $87.62 and a 1-year high of $111.88. The company’s 50 day moving average is $91.95 and its 200-day moving average is $98.24.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Friday, June 30th will be issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, June 28th. Agrium’s payout ratio is 81.21%.

Several analysts have commented on AGU shares. Vertical Research upgraded Agrium from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. BMO Capital Markets reissued a “hold” rating and set a $100.00 price target on shares of Agrium in a report on Wednesday, April 5th. Credit Suisse Group AG set a $100.00 price target on Agrium and gave the company a “hold” rating in a report on Saturday, February 11th. TD Securities set a $99.00 price target on Agrium and gave the company a “hold” rating in a report on Wednesday, May 3rd. Finally, Citigroup Inc lowered their price target on Agrium from $104.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $103.92.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AGU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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