Sei Investments Co. raised its stake in AGCO Corporation (NYSE:AGCO) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,683 shares of the industrial products company’s stock after buying an additional 9,012 shares during the period. Sei Investments Co. owned about 0.17% of AGCO Corporation worth $9,076,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of AGCO. Wells Fargo & Company MN increased its position in shares of AGCO Corporation by 1.6% in the first quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock valued at $2,006,000 after buying an additional 527 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of AGCO Corporation by 15.7% in the first quarter. Russell Investments Group Ltd. now owns 248,647 shares of the industrial products company’s stock valued at $14,965,000 after buying an additional 33,779 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of AGCO Corporation during the first quarter valued at approximately $378,000. Korea Investment CORP acquired a new position in shares of AGCO Corporation during the first quarter valued at approximately $3,292,000. Finally, Nationwide Fund Advisors increased its position in shares of AGCO Corporation by 2.3% in the first quarter. Nationwide Fund Advisors now owns 131,444 shares of the industrial products company’s stock valued at $7,910,000 after buying an additional 3,011 shares in the last quarter. Institutional investors own 84.62% of the company’s stock.
AGCO Corporation (AGCO) opened at 68.82 on Friday. The firm has a market capitalization of $5.47 billion, a PE ratio of 30.09 and a beta of 0.86. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97. The firm has a 50-day moving average price of $70.13 and a 200 day moving average price of $64.58.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts anticipate that AGCO Corporation will post $3.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s payout ratio is currently 24.56%.
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Several research analysts have recently commented on the company. BidaskClub downgraded AGCO Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies set a $66.00 target price on AGCO Corporation and gave the stock a “hold” rating in a research note on Wednesday. UBS AG reiterated a “neutral” rating and set a $73.00 target price (up from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. BMO Capital Markets boosted their price target on AGCO Corporation from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday, August 1st. Finally, TheStreet upgraded AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.80.
In other news, SVP Lucinda B. Smith sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at $2,838,021. The transaction was disclosed in a 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 Friday, August 4th. The stock was sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the transaction, the chief financial officer now directly owns 142,079 shares of the company’s stock, valued at $10,255,262.22. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock valued at $1,871,500 over the last ninety days. Corporate insiders own 16.60% of the company’s stock.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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