Mackay Shields LLC Has $9.34 Million Holdings in AGCO Co. (NYSE:AGCO)

Mackay Shields LLC cut its stake in AGCO Co. (NYSE:AGCO) by 55.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,377 shares of the industrial products company’s stock after selling 156,494 shares during the period. Mackay Shields LLC owned approximately 0.16% of AGCO worth $9,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AGCO. DNB Asset Management AS bought a new stake in shares of AGCO in the 2nd quarter valued at about $1,606,000. Retirement Systems of Alabama boosted its position in shares of AGCO by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock worth $6,508,000 after acquiring an additional 230 shares in the last quarter. Scout Investments Inc. acquired a new stake in shares of AGCO during the 2nd quarter worth approximately $13,686,000. Fox Run Management L.L.C. acquired a new stake in shares of AGCO during the 2nd quarter worth approximately $280,000. Finally, New York State Teachers Retirement System boosted its position in shares of AGCO by 4.8% during the 2nd quarter. New York State Teachers Retirement System now owns 94,887 shares of the industrial products company’s stock worth $7,360,000 after acquiring an additional 4,306 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

NYSE:AGCO traded up $0.35 on Friday, hitting $79.31. The company had a trading volume of 3,387 shares, compared to its average volume of 490,255. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.14 and a beta of 0.98. The company has a current ratio of 1.31, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $75.22 and a two-hundred day moving average of $72.96. AGCO Co. has a 52 week low of $51.48 and a 52 week high of $80.64.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.21 billion. AGCO had a net margin of 3.42% and a return on equity of 12.26%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, equities analysts forecast that AGCO Co. will post 5.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 14th. AGCO’s payout ratio is 16.45%.

AGCO has been the topic of several analyst reports. BMO Capital Markets increased their price target on shares of AGCO from $65.00 to $80.00 and gave the stock a “market perform” rating in a research report on Monday, September 16th. Royal Bank of Canada set a $88.00 price target on shares of AGCO and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup reduced their price target on shares of AGCO from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Co lowered shares of AGCO from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $90.00 to $80.00 in a research report on Wednesday, July 17th. Finally, OTR Global lowered shares of AGCO to a “positive” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. AGCO has a consensus rating of “Hold” and an average target price of $79.53.

In other news, VP Gary L. Collar sold 5,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $72.96, for a total transaction of $364,800.00. Following the completion of the transaction, the vice president now owns 83,807 shares of the company’s stock, valued at $6,114,558.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $70.52, for a total transaction of $705,200.00. Following the completion of the sale, the chief financial officer now owns 148,218 shares of the company’s stock, valued at $10,452,333.36. The disclosure for this sale can be found here. In the last three months, insiders sold 40,000 shares of company stock valued at $2,977,400. 17.60% of the stock is owned by insiders.

AGCO Profile

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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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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