The Successful Investor Hotline – Friday, January 25, 2013
Article Excerpt
AGRIUM INC., $115.36, Toronto symbol AGU, jumped 8% this week after the company increased its earnings forecast for the fourth quarter of 2012.
Higher prices for grains and other crops are prompting farmers to apply more fertilizer. As a result, the company now expects to report fourth quarter earnings of slightly more than $2.00 a share (all amounts except share price in U.S. dollars). That’s well above its earlier forecast of $1.50 to $1.90 a share.
Activist investment firm Jana Partners LLC continues to pressure Agrium to spin off its retail business as a separate company. Jana owns 6% of Agrium’s shares.
The retail division has 1,250 stores in North America, South America and Australia that sell seed, fertilizer and other products to farmers. These outlets supply 60% of Agrium’s revenue. The remaining 40% mainly comes from making fertilizers from natural gas.
Agrium’s management wants to hang on to the retail business, because they believe its steady revenue streams help offset the cyclical nature…
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