ValueAct Capital Increases Agrium Stake ~ market folly

Wednesday, June 17, 2015

ValueAct Capital Increases Agrium Stake

Jeff Ubben's activist investment firm ValueAct Capital has filed an amended 13D with the SEC regarding its position in Agrium (AGU).  Per the filing, ValueAct now owns 6.8% of the company with over 9.72 million shares.

This marks around a 22% increase in the number of shares owned since the end of the first quarter.  The filing indicates ValueAct was buying AGU in late April, late May, and early June.  They purchased shares between $102.54 and $104.08.  AGU currently still trades within that range.

ValueAct also recently trimmed their large Valeant Pharmaceuticals stake and definitely has more cash on hand to deploy if desired.

Per Google Finance, Agrium is "a Canada-based producer and marketer of nutrients for agricultural and industrial markets. Agrium 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 operates through its two business units: Retail and Wholesale. Agrium Wholesale owns 16 production facilities in North and South America across the nitrogen, potash and phosphate spectrum; two mines; and a distribution and storage network throughout North America and internationally through Agrium Europe. Agrium Retail operates approximately 1,375 retail locations, 57 terminals, 8 plants and 18 distribution centers in North and South America, as well as Australia."

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