Candriam S.C.A. Sells 37,866 Shares of AGCO Co. (NYSE:AGCO)

Candriam S.C.A. cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 48.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,952 shares of the industrial products company’s stock after selling 37,866 shares during the period. Candriam S.C.A. owned 0.05% of AGCO worth $3,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AGCO. Ontario Teachers Pension Plan Board lifted its holdings in AGCO by 30.0% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock valued at $3,961,000 after buying an additional 7,539 shares during the period. UBS Group AG raised its position in shares of AGCO by 106.8% during the 4th quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after acquiring an additional 99,212 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of AGCO by 176.1% in the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after purchasing an additional 13,952 shares during the period. Cim LLC bought a new position in shares of AGCO in the 4th quarter worth $994,000. Finally, Sei Investments Co. grew its stake in shares of AGCO by 28.6% during the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after purchasing an additional 14,201 shares during the period. Institutional investors own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

AGCO has been the topic of several analyst reports. Citigroup initiated coverage on AGCO in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 target price on the stock. StockNews.com downgraded shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets initiated coverage on shares of AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. UBS Group lowered their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial reissued a “buy” rating and set a $118.00 price target (down from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, AGCO has an average rating of “Hold” and an average price target of $118.91.

AGCO Stock Up 1.7 %

Shares of AGCO stock opened at $89.09 on Tuesday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 6.03, a P/E/G ratio of 0.82 and a beta of 1.25. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26. The firm has a fifty day moving average of $93.04 and a 200-day moving average of $105.28. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. AGCO’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the company posted $4.29 EPS. As a group, equities research analysts predict that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is currently 7.85%.

Insider Transactions at AGCO

In other AGCO news, Director Lange Bob De acquired 1,420 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $87.91 per share, with a total value of $124,832.20. Following the completion of the transaction, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael C. Arnold purchased 1,800 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the purchase, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lange Bob De acquired 1,420 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the purchase, the director now owns 7,007 shares in the company, valued at $615,985.37. The disclosure for this purchase can be found here. Company insiders own 16.60% of the company’s stock.

AGCO Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.