AGCO Corporation (AGCO) Position Increased by Scout Investments Inc.
Scout Investments Inc. raised its stake in shares of AGCO Corporation (NYSE:AGCO) by 16.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,835 shares of the industrial products company’s stock after buying an additional 28,942 shares during the period. Scout Investments Inc. owned approximately 0.26% of AGCO Corporation worth $13,871,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its position in AGCO Corporation by 22.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock valued at $132,000 after buying an additional 400 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in AGCO Corporation by 24.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 21,284 shares of the industrial products company’s stock valued at $1,314,000 after buying an additional 4,176 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in AGCO Corporation by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 113,124 shares of the industrial products company’s stock valued at $6,808,000 after buying an additional 1,113 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in AGCO Corporation during the first quarter valued at approximately $246,000. Finally, Commerzbank Aktiengesellschaft FI increased its position in AGCO Corporation by 13.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,740 shares of the industrial products company’s stock valued at $345,000 after buying an additional 683 shares during the last quarter. 80.68% of the stock is owned by institutional investors.
AGCO Corporation (NYSE AGCO) opened at 68.45 on Friday. The company has a 50-day moving average price of $70.00 and a 200-day moving average price of $65.01. AGCO Corporation has a 1-year low of $46.22 and a 1-year high of $73.97. The company has a market cap of $5.44 billion, a PE ratio of 29.93 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last released its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company earned $1.25 EPS. AGCO Corporation’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that AGCO Corporation will post $3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio (DPR) is 24.56%.
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Several research firms recently commented on AGCO. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price objective on shares of AGCO Corporation in a research note on Thursday. BidaskClub downgraded AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. William Blair upgraded AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. BMO Capital Markets upped their price objective 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 reiterated a “neutral” rating and issued a $73.00 price objective (up previously from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.73.
In other AGCO Corporation news, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the sale, the senior vice president now owns 38,877 shares in the company, valued at approximately $2,838,021. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert B. Crain sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the sale, the senior vice president now owns 89,322 shares in the company, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,750 shares of company stock worth $1,921,390. 16.60% of the stock is owned by corporate insiders.
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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