Cannell Peter B & Co. Inc. Raises Stake in Agrium Inc. (AGU)

Cannell Peter B & Co. Inc. increased its position in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,370 shares of the basic materials company’s stock after purchasing an additional 2,530 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Agrium were worth $5,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Agrium by 6.2% in the 1st quarter. Geode Capital Management LLC now owns 67,071 shares of the basic materials company’s stock worth $6,365,000 after purchasing an additional 3,941 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Agrium by 18.5% in the 2nd quarter. Aperio Group LLC now owns 51,975 shares of the basic materials company’s stock worth $4,703,000 after purchasing an additional 8,118 shares in the last quarter. Hermes Investment Management Ltd. bought a new stake in shares of Agrium in the 2nd quarter worth $682,000. Lincluden Management Ltd. increased its holdings in shares of Agrium by 4.1% in the 2nd quarter. Lincluden Management Ltd. now owns 355,257 shares of the basic materials company’s stock worth $33,158,000 after purchasing an additional 14,115 shares in the last quarter. Finally, FineMark National Bank & Trust increased its holdings in shares of Agrium by 15.8% in the 2nd quarter. FineMark National Bank & Trust now owns 4,528 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 618 shares in the last quarter. Institutional investors own 66.98% of the company’s stock.

A number of analysts have commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $116.00 target price (up previously from $107.00) on shares of Agrium in a report on Friday, August 11th. TD Securities lifted their price objective on Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a report on Thursday, August 10th. Stephens started coverage on Agrium in a report on Monday. They issued an “overweight” rating and a $131.00 price objective for the company. started coverage on Agrium in a report on Wednesday, October 11th. They issued a “buy” rating and a $126.50 price objective for the company. Finally, Cowen lifted their price objective on Agrium from $109.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Agrium currently has an average rating of “Buy” and an average price target of $114.19.

Agrium Inc. (NYSE AGU) opened at $105.89 on Friday. The firm has a market capitalization of $14,675.81, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.58 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 0.78 and a debt-to-equity ratio of 0.70. Agrium Inc. has a 52-week low of $87.82 and a 52-week high of $111.88.

Agrium (NYSE:AGU) (TSE:AGU) last released its earnings results on Tuesday, November 7th. The basic materials company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.22). The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Agrium had a net margin of 2.64% and a return on equity of 9.62%. Agrium’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share. equities analysts anticipate that Agrium Inc. will post 4.57 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for Agrium (NYSE:AGU)

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