CIBC Asset Management Inc sells 475,890 shares of Agrium Inc

CIBC Asset Management Inc lowered its stake in shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,804,102 shares of the basic materials company’s stock after selling 475,890 shares during the period. Agrium accounts for 1.1% of CIBC Asset Management Inc’s holdings, making the stock its 23rd largest position. CIBC Asset Management Inc’s holdings in Agrium were worth $163,318,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of AGU. Tower Research Capital LLC TRC raised its position in 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 period. V Wealth Management LLC bought a new position in Agrium during the second quarter valued at $156,000. Envestnet Asset Management Inc. raised its position in 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 period. M&T Bank Corp bought a new position in Agrium during the first quarter valued at $234,000. Finally, Creative Planning raised its position in 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 period. Institutional investors own 69.26% of the company’s stock. Shares of Agrium Inc. (AGU) opened at 99.59 on Thursday. The company’s 50-day moving average price is $95.34 and its 200-day moving average price is $96.17. Agrium Inc. has a 52-week low of $87.75 and a 52-week high of $111.88. The firm has a market capitalization of $13.76 billion, a P/E ratio of 23.73 and a beta of 0.61

AGU has been the topic of several recent research reports. Royal Bank Of Canada restated a “buy” rating and set a $110.00 target price on shares of Agrium in a report on Thursday, June 29th. Vertical Research upgraded Agrium from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Stifel Nicolaus restated a “buy” rating and set a $107.00 target price (down from $114.00) on shares of Agrium in a report on Monday, July 10th. Cowen and Company set a $99.00 target price on Agrium and gave the company a “buy” rating in a report on Friday, July 28th. Finally, BMO Capital Markets restated a “hold” rating and set a $100.00 target price on shares of Agrium in a report on Wednesday, April 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $103.00.

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.
Want to see what other hedge funds are holding AGU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agrium Inc. (NYSE:AGU) (TSE:AGU).

You may also like...

%d blogueiros gostam disto: