AGCO Corporation (NYSE:AGCO) Stake Lowered by CrestPoint Capital Management LLC
CrestPoint Capital Management LLC lowered its stake in shares of AGCO Corporation (NYSE:AGCO) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,200 shares of the industrial products company’s stock after selling 900 shares during the period. CrestPoint Capital Management LLC’s holdings in AGCO Corporation were worth $822,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in AGCO. Stevens Capital Management LP acquired a new stake in shares of AGCO Corporation during the first quarter worth about $3,648,000. Canada Pension Plan Investment Board increased its stake in shares of AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock worth $28,417,000 after buying an additional 273,800 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock worth $490,000 after buying an additional 50 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of AGCO Corporation by 54.3% in the first quarter. BNP Paribas Arbitrage SA now owns 79,156 shares of the industrial products company’s stock worth $4,764,000 after buying an additional 27,863 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in shares of AGCO Corporation by 1.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 30,280 shares of the industrial products company’s stock worth $1,823,000 after buying an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.
AGCO Corporation (NYSE AGCO) opened at 70.56 on Wednesday. AGCO Corporation has a one year low of $46.22 and a one year high of $71.06. The firm has a market cap of $5.61 billion, a PE ratio of 40.07 and a beta of 0.85. The company has a 50 day moving average of $67.25 and a 200-day moving average of $63.26.
AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings data on Friday, April 28th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. AGCO Corporation had a return on equity of 6.55% and a net margin of 1.90%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that AGCO Corporation will post $2.79 earnings per share for the current year.
The business also recently disclosed 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 0.79%. The ex-dividend date of this dividend is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 32.00%.
AGCO has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of AGCO Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, April 11th. William Blair upgraded shares of AGCO Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 11th. Stifel Nicolaus initiated coverage on shares of AGCO Corporation in a report on Monday, April 10th. They set a “hold” rating and a $64.00 price target on the stock. BMO Capital Markets upped their price target on shares of AGCO Corporation from $55.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, May 30th. Finally, UBS AG reiterated a “sell” rating and set a $52.00 price target (up from $38.00) on shares of AGCO Corporation in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. AGCO Corporation has a consensus rating of “Hold” and an average target price of $63.73.
In related news, VP Richard Robinson Smith sold 2,037 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $63.91, for a total value of $130,184.67. Following the completion of the sale, the vice president now directly owns 41,717 shares in the company, valued at approximately $2,666,133.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Lucinda B. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $64.00, for a total value of $320,000.00. Following the completion of the sale, the senior vice president now owns 40,977 shares of the company’s stock, valued at $2,622,528. The disclosure for this sale can be found here. 16.60% of the stock is owned by insiders.
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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