Magnetar Financial LLC Makes New Investment in AGCO Co. (NYSE:AGCO)

Magnetar Financial LLC bought a new stake in AGCO Co. (NYSE:AGCO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,613 shares of the industrial products company’s stock, valued at approximately $1,332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AGCO. Forum Financial Management LP lifted its stake in AGCO by 5.5% during the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 109 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Capital Insight Partners LLC grew its holdings in shares of AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 110 shares during the last quarter. Stonehearth Capital Management LLC increased its position in AGCO by 6.8% during the 1st quarter. Stonehearth Capital Management LLC now owns 1,778 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 113 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in AGCO by 121.9% in the 1st 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. Institutional investors own 78.80% of the company’s stock.

Insider Buying and Selling at AGCO

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 target price on the stock. Robert W. Baird reduced their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. UBS Group reduced their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $118.91.

AGCO Stock Up 0.0 %

Shares of NYSE AGCO opened at $94.76 on Tuesday. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The firm has a market cap of $7.07 billion, a PE ratio of 6.41, a P/E/G ratio of 0.83 and a beta of 1.25. The company’s fifty day simple moving average is $92.25 and its 200 day simple moving average is $104.05.

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

AGCO Dividend Announcement

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

About AGCO

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.