Ontario Teachers’ Pension Plan Board buys more shares in Monsanto

Feb 21, 2018

The group also purchased two agribusinesses in late 2017

By Diego Flammini
News Reporter
Farms.com

The group representing the retirement interests of 182,000 Ontario elementary and secondary school teachers continues to expand its presence in the agricultural industry.

The Ontario Teachers’ Pension Plan Board (OTPP) increased its shares in Monsanto by 1.8 per cent during the fourth quarter of 2017, according to Holdings Channel.

OTPP owned 500,387 shares in Monsanto during the fourth quarter, worth $58,435,000, according to Holdings Channel.

The investment fund purchased another 8,957 shares in the fourth quarter, worth about $1,079,408 based on the $120.51 per share price reported on Monday.

Monsanto is OTTP’s 22^nd largest stock and accounts for about 0.7 per cent of the board’s total investment portfolio.

And Monsanto isn’t OTTP’s only ag-related investment.

The teachers’ pension board also owns more than 1 million shares in Altria Group, an American tobacco producer and marketer. OTTP’s ownership in Altria is more than $75 million, according to Holdings Channel.

OTTP also holds more than 17,000 shares in Agrium, the Calgary-based crop input supplier which recently merged with PorashCorp to create Nutrien Ltd. OTTP’s shares in Agrium are worth over $2 million.

In late 2017, the OTTP also purchased two agribusinesses.

The OTTP acquired Jasper Farms, a leading Australian avocado producer with about 82,000 trees across 220 hectares (543 acres), in December. The deal was worth about CAD$177 million, according to The West Australian.

And a month earlier, OTPP announced it acquired Atlantic Aqua Farms, the largest grower of live mussels in North America, headquartered in Orwell Cove, P.E.I.

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