Adecoagro (NYSE:AGRO) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Adecoagro (NYSE:AGRO) from a hold rating to a buy rating in a research report sent to investors on Monday.

Adecoagro Stock Up 1.2 %

Adecoagro stock opened at $11.25 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.14 and a quick ratio of 1.20. Adecoagro has a 1-year low of $8.33 and a 1-year high of $12.51. The company has a market cap of $1.17 billion, a PE ratio of 5.33 and a beta of 1.12. The stock’s 50 day moving average price is $10.73 and its 200 day moving average price is $10.70.

Adecoagro (NYSE:AGRO) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.15) earnings per share for the quarter. Adecoagro had a return on equity of 10.86% and a net margin of 17.42%. The firm had revenue of $263.95 million during the quarter. On average, sell-side analysts predict that Adecoagro will post 1.69 EPS for the current fiscal year.

Adecoagro Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th will be paid a $0.1682 dividend. The ex-dividend date is Monday, May 13th. This represents a yield of 2.9%. This is a positive change from Adecoagro’s previous semi-annual dividend of $0.17. Adecoagro’s dividend payout ratio is presently 15.64%.

Institutional Trading of Adecoagro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGRO. Raymond James & Associates acquired a new stake in shares of Adecoagro during the 3rd quarter worth about $525,000. Bank of New York Mellon Corp boosted its position in Adecoagro by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 2,943,599 shares of the company’s stock worth $34,411,000 after acquiring an additional 25,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Adecoagro by 0.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 275,063 shares of the company’s stock worth $3,215,000 after acquiring an additional 1,280 shares during the period. NBC Securities Inc. acquired a new position in Adecoagro in the 3rd quarter valued at $54,000. Finally, abrdn plc lifted its stake in shares of Adecoagro by 15.6% during the 3rd quarter. abrdn plc now owns 1,005,939 shares of the company’s stock worth $11,759,000 after purchasing an additional 135,990 shares during the period. Hedge funds and other institutional investors own 45.25% of the company’s stock.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.