Appian Way Asset Management LP Makes New Investment in AGCO Co. (NYSE:AGCO)

Appian Way Asset Management LP acquired a new stake in AGCO Co. (NYSE:AGCO) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 16,700 shares of the industrial products company’s stock, valued at approximately $1,635,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC boosted its holdings in AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in AGCO during the first quarter worth about $30,000. Blue Trust Inc. raised its position in AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

NYSE:AGCO opened at $94.76 on Tuesday. The company has a market capitalization of $7.07 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.83 and a beta of 1.25. 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 Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The stock’s fifty day moving average is $92.25 and its two-hundred day moving average is $104.05.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the company earned $4.29 EPS. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. Equities analysts expect that AGCO Co. will post 8 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. AGCO’s dividend payout ratio is currently 7.85%.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on AGCO shares. Citigroup initiated coverage on shares of AGCO in a research note on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price objective on the stock. UBS Group cut their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Barclays lowered their target price on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. Raymond James initiated coverage on AGCO in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Oppenheimer lowered their price target on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $118.91.

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.