BlueMountain Capital Management LLC lowered its stake in AGCO Co. (NYSE:AGCO) by 63.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,957 shares of the industrial products company’s stock after selling 32,670 shares during the period. BlueMountain Capital Management LLC’s holdings in AGCO were worth $1,151,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGCO. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of AGCO by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 188,095 shares of the industrial products company’s stock valued at $12,198,000 after buying an additional 1,602 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of AGCO during the 1st quarter valued at about $487,000. Prudential Financial Inc. grew its position in shares of AGCO by 141.2% during the 1st quarter. Prudential Financial Inc. now owns 228,870 shares of the industrial products company’s stock valued at $14,843,000 after buying an additional 134,000 shares during the last quarter. M&T Bank Corp grew its position in shares of AGCO by 18.3% during the 1st quarter. M&T Bank Corp now owns 5,991 shares of the industrial products company’s stock valued at $388,000 after buying an additional 925 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of AGCO by 13.1% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,261 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 3,500 shares during the last quarter. 85.09% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Deutsche Bank set a $79.00 price objective on shares of AGCO and gave the company a “buy” rating in a research report on Wednesday, September 5th. ValuEngine downgraded shares of AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. JPMorgan Chase & Co. downgraded shares of AGCO from a “neutral” rating to an “underweight” rating and set a $55.00 price objective for the company. in a research report on Monday, August 13th. TheStreet raised shares of AGCO from a “c+” rating to a “b-” rating in a research report on Tuesday, July 31st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $70.00 target price on shares of AGCO in a research report on Friday, July 20th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. AGCO presently has a consensus rating of “Hold” and an average price target of $71.00.
NYSE AGCO opened at $58.79 on Friday. AGCO Co. has a 52 week low of $56.36 and a 52 week high of $75.95. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.01 and a beta of 0.72.
AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 31st. The industrial products company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. AGCO had a net margin of 2.44% and a return on equity of 9.31%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. AGCO’s quarterly revenue was up 17.2% on a year-over-year basis. equities analysts expect that AGCO Co. will post 3.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Wednesday, August 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Tuesday, August 14th. AGCO’s dividend payout ratio is currently 19.87%.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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