Wells Fargo & Company MN Purchases 399,821 Shares of Agrium Inc. (AGU)
Wells Fargo & Company MN increased its stake in Agrium Inc. (NYSE:AGU) (TSE:AGU) by 63.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,027,335 shares of the basic materials company’s stock after buying an additional 399,821 shares during the quarter. Wells Fargo & Company MN owned approximately 0.74% of Agrium worth $118,144,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc. lifted its holdings in shares of Agrium by 5.7% during the third quarter. TD Asset Management Inc. now owns 2,405,907 shares of the basic materials company’s stock worth $257,271,000 after buying an additional 129,309 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Agrium by 3,083.8% in 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. CIBC Asset Management Inc increased its position in shares of Agrium by 9.5% in the third quarter. CIBC Asset Management Inc now owns 1,974,982 shares of the basic materials company’s stock worth $211,097,000 after purchasing an additional 170,880 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Agrium by 18.5% in the third quarter. Great West Life Assurance Co. Can now owns 1,653,534 shares of the basic materials company’s stock worth $176,900,000 after purchasing an additional 258,672 shares during the period. Finally, CGOV Asset Management increased its position in shares of Agrium by 1.3% in the fourth quarter. CGOV Asset Management now owns 1,440,141 shares of the basic materials company’s stock worth $208,216,000 after purchasing an additional 18,682 shares during the period. 66.94% of the stock is owned by institutional investors.
A number of research analysts have issued reports on AGU shares. Cowen lifted their target price on Agrium from $109.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Stephens assumed coverage on Agrium in a research note on Monday, December 4th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Agrium presently has a consensus rating of “Hold” and a consensus price target of $113.23.
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Agrium Company Profile
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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