Natixis Asset Management Has $866,000 Stake in AGCO Corporation (AGCO)
Natixis Asset Management raised its stake in AGCO Corporation (NYSE:AGCO) by 178.4% during the third quarter, Holdings Channel reports. The institutional investor owned 17,565 shares of the company’s stock after buying an additional 11,255 shares during the period. Natixis Asset Management’s holdings in AGCO Corporation were worth $866,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BARING ASSET MANAGEMENT Ltd increased its stake in AGCO Corporation by 70.1% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 218,651 shares of the company’s stock valued at $10,305,000 after buying an additional 90,107 shares during the last quarter. AGF Investments Inc. increased its stake in AGCO Corporation by 18.7% in the second quarter. AGF Investments Inc. now owns 1,411,182 shares of the company’s stock valued at $66,495,000 after buying an additional 221,904 shares during the last quarter. Sei Investments Co. increased its stake in AGCO Corporation by 1.9% in the third quarter. Sei Investments Co. now owns 183,426 shares of the company’s stock valued at $9,047,000 after buying an additional 3,364 shares during the last quarter. BlackRock Inc. increased its stake in AGCO Corporation by 1.8% in the third quarter. BlackRock Inc. now owns 225,054 shares of the company’s stock valued at $11,099,000 after buying an additional 3,981 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in AGCO Corporation by 4.6% in the third quarter. Canada Pension Plan Investment Board now owns 265,403 shares of the company’s stock valued at $13,090,000 after buying an additional 11,590 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.
AGCO Corporation (NYSE:AGCO) traded up 0.38% during midday trading on Friday, hitting $60.88. The company had a trading volume of 597,330 shares. The company’s 50 day moving average is $58.61 and its 200 day moving average is $51.50. AGCO Corporation has a 12-month low of $42.40 and a 12-month high of $61.47. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 31.41 and a beta of 1.08.
AGCO Corporation (NYSE:AGCO) last posted its earnings results on Wednesday, October 26th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.15. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.33 billion. AGCO Corporation had a net margin of 2.20% and a return on equity of 6.85%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, equities analysts anticipate that AGCO Corporation will post $2.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, November 10th. This represents a $0.52 annualized dividend and a yield of 0.85%. AGCO Corporation’s dividend payout ratio is 26.94%.
AGCO has been the subject of several research reports. Wells Fargo & Company raised AGCO Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Zacks Investment Research downgraded AGCO Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Vertical Research downgraded AGCO Corporation from a “hold” rating to a “sell” rating in a research note on Friday, January 6th. Barclays PLC upped their price objective on AGCO Corporation from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 12th. Finally, Deutsche Bank AG reduced their price objective on AGCO Corporation from $54.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.57.
In other AGCO Corporation news, VP Gary L. Collar sold 2,309 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $53.00, for a total transaction of $122,377.00. Following the sale, the vice president now directly owns 47,663 shares of the company’s stock, valued at $2,526,139. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.00% of the company’s stock.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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