Liberty Mutual Group Asset Management Inc. Boosts Position in AGCO Corporation (AGCO)
Liberty Mutual Group Asset Management Inc. increased its stake in AGCO Corporation (NYSE:AGCO) by 1.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 30,280 shares of the industrial products company’s stock after buying an additional 413 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in AGCO Corporation were worth $1,823,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Tyers Asset Management LLC acquired a new position in AGCO Corporation during the fourth quarter worth approximately $113,000. Renaissance Technologies LLC boosted its position in AGCO Corporation by 84.0% in the fourth quarter. Renaissance Technologies LLC now owns 234,100 shares of the industrial products company’s stock worth $13,545,000 after buying an additional 106,900 shares in the last quarter. Employees Retirement System of Texas acquired a new position in AGCO Corporation during the fourth quarter worth approximately $3,819,000. Credit Agricole S A boosted its position in AGCO Corporation by 40.2% in the fourth quarter. Credit Agricole S A now owns 126,062 shares of the industrial products company’s stock worth $7,294,000 after buying an additional 36,162 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in AGCO Corporation by 1,556.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 115,178 shares of the industrial products company’s stock worth $6,666,000 after buying an additional 108,224 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.
AGCO Corporation (NYSE AGCO) traded up 0.86% during mid-day trading on Friday, reaching $70.28. The company’s stock had a trading volume of 386,657 shares. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 39.91 and a beta of 0.85. The company’s 50-day moving average price is $65.40 and its 200 day moving average price is $62.23. AGCO Corporation has a 52 week low of $45.47 and a 52 week high of $70.59.
AGCO Corporation (NYSE:AGCO) last posted its earnings results on Friday, April 28th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. AGCO Corporation had a net margin of 1.90% and a return on equity of 6.55%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts forecast that AGCO Corporation will post $2.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.14 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. AGCO Corporation’s dividend payout ratio (DPR) is 32.00%.
A number of research analysts have recently commented on the company. Zacks Investment Research raised AGCO Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, April 11th. William Blair raised AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Stifel Nicolaus assumed coverage on AGCO Corporation in a research note on Monday, April 10th. They set a “hold” rating and a $64.00 target price on the stock. BMO Capital Markets upped their target price on AGCO Corporation from $55.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, May 30th. Finally, UBS AG reaffirmed a “sell” rating and set a $52.00 target price (up previously from $38.00) on shares of AGCO Corporation in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $63.73.
In other AGCO Corporation news, VP Richard Robinson Smith sold 2,037 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $63.91, for a total value of $130,184.67. Following the completion of the transaction, the vice president now owns 41,717 shares in the company, valued at $2,666,133.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Lucinda B. Smith sold 5,000 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $64.00, for a total transaction of $320,000.00. Following the completion of the transaction, the senior vice president now owns 40,977 shares of the company’s stock, valued at approximately $2,622,528. The disclosure for this sale can be found here. Insiders own 16.60% of the company’s stock.
AGCO Corporation Company Profile
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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