Wedge Capital Management L L P NC lowered its stake in shares of AGCO Co. (NYSE:AGCO) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,064 shares of the industrial products company’s stock after selling 4,462 shares during the period. Wedge Capital Management L L P NC’s holdings in AGCO were worth $15,054,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Gabelli Funds LLC boosted its stake in shares of AGCO by 11.1% during the 1st quarter. Gabelli Funds LLC now owns 15,000 shares of the industrial products company’s stock valued at $1,043,000 after buying an additional 1,500 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of AGCO by 128.0% during the 1st quarter. Riverhead Capital Management LLC now owns 30,305 shares of the industrial products company’s stock valued at $2,108,000 after buying an additional 17,014 shares during the period. DNB Asset Management AS acquired a new stake in shares of AGCO during the 2nd quarter valued at $1,606,000. Oppenheimer Asset Management Inc. boosted its stake in shares of AGCO by 4.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,935 shares of the industrial products company’s stock valued at $2,290,000 after buying an additional 1,493 shares during the period. Finally, Private Capital Group LLC boosted its stake in shares of AGCO by 51.3% during the 1st quarter. Private Capital Group LLC now owns 1,652 shares of the industrial products company’s stock valued at $115,000 after buying an additional 560 shares during the period. 79.27% of the stock is owned by institutional investors.
In other news, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $71.17, for a total transaction of $711,700.00. Following the transaction, the chief financial officer now owns 178,776 shares in the company, valued at approximately $12,723,487.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Martin Richenhagen sold 51,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $71.60, for a total transaction of $3,651,600.00. Following the transaction, the chairman now owns 473,733 shares in the company, valued at approximately $33,919,282.80. The disclosure for this sale can be found here. Insiders sold a total of 117,977 shares of company stock worth $8,707,768 in the last quarter. Insiders own 17.60% of the company’s stock.
AGCO traded down $4.03 during trading on Wednesday, hitting $63.84. The stock had a trading volume of 39,453 shares, compared to its average volume of 621,862. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.08 and a beta of 0.94. AGCO Co. has a 12 month low of $49.50 and a 12 month high of $80.64. The company has a current ratio of 1.29, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $75.61.
AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.59 by $0.23. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.55 billion. AGCO had a net margin of 4.07% and a return on equity of 12.64%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 EPS. As a group, research analysts forecast that AGCO Co. will post 5.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.64 annualized dividend and a yield of 1.00%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of AGCO from an “overweight” rating to a “neutral” rating and set a $77.00 target price for the company. in a research note on Wednesday, July 10th. OTR Global raised shares of AGCO to a “positive” rating in a research note on Friday, July 12th. Wells Fargo & Co lowered shares of AGCO from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $90.00 to $80.00 in a research note on Wednesday, July 17th. Credit Suisse Group reissued a “neutral” rating and set a $83.00 target price (up previously from $70.00) on shares of AGCO in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada set a $88.00 target price on shares of AGCO and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. AGCO has a consensus rating of “Hold” and an average target price of $76.86.
AGCO Company 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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