Granite Investment Advisors LLC lessened its position in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 24.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,765 shares of the basic materials company’s stock after selling 28,287 shares during the period. Agrium makes up 1.8% of Granite Investment Advisors LLC’s holdings, making the stock its 15th largest position. Granite Investment Advisors LLC owned about 0.06% of Agrium worth $10,093,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its position in shares of Agrium by 3,083.8% during the third quarter. First Eagle Investment Management LLC now owns 2,399,091 shares of the basic materials company’s stock worth $257,207,000 after purchasing an additional 2,323,737 shares during the period. Wells Fargo & Company MN raised its position in shares of Agrium by 63.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,027,335 shares of the basic materials company’s stock worth $118,144,000 after purchasing an additional 399,821 shares during the period. Mackenzie Financial Corp raised its position in shares of Agrium by 53.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,077,868 shares of the basic materials company’s stock worth $123,955,000 after purchasing an additional 375,575 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Agrium during the fourth quarter worth $47,134,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Agrium by 18.5% during the third quarter. Great West Life Assurance Co. Can now owns 1,653,534 shares of the basic materials company’s stock valued at $176,900,000 after buying an additional 258,672 shares in the last quarter. 66.94% of the stock is currently owned by institutional investors.
The company has a quick ratio of 0.78, a current ratio of 1.29 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $15,890.00, a price-to-earnings ratio of 29.49, a PEG ratio of 2.18 and a beta of 0.64. Agrium Inc. has a twelve month low of $87.82 and a twelve month high of $117.28.
A number of brokerages have recently weighed in on AGU. Cowen lifted their price target on Agrium from $109.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Stephens began coverage on Agrium in a report on Monday, December 4th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Agrium from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, November 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $113.23.
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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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