AGCO Corporation (AGCO) Shares Bought by Zuckerman Investment Group LLC
Zuckerman Investment Group LLC lifted its stake in AGCO Corporation (NYSE:AGCO) by 26.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 330,312 shares of the industrial products company’s stock after buying an additional 69,039 shares during the period. AGCO Corporation makes up approximately 5.9% of Zuckerman Investment Group LLC’s investment portfolio, making the stock its 5th biggest position. Zuckerman Investment Group LLC owned about 0.42% of AGCO Corporation worth $22,260,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new stake in shares of AGCO Corporation in the second quarter valued at approximately $165,000. PNC Financial Services Group Inc. boosted its stake in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after buying an additional 106 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock valued at $211,000 after buying an additional 1,300 shares during the period. Advisor Partners LLC bought a new stake in shares of AGCO Corporation in the second quarter valued at approximately $212,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of AGCO Corporation by 69.7% in the second quarter. Riverhead Capital Management LLC now owns 3,563 shares of the industrial products company’s stock valued at $240,000 after buying an additional 1,463 shares during the period. Institutional investors and hedge funds own 80.67% of the company’s stock.
AGCO has been the subject of several recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $75.00 target price on shares of AGCO Corporation in a research note on Thursday, August 31st. BidaskClub cut AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. William Blair upgraded AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. BMO Capital Markets upped their target price on AGCO Corporation from $55.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 30th. Finally, UBS AG restated a “neutral” rating and set a $73.00 target price (up from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $68.14.
In other news, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lucinda B. Smith sold 1,000 shares of AGCO Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the sale, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at $2,838,021. The disclosure for this sale can be found here. Insiders have sold a total of 26,750 shares of company stock valued at $1,921,390 over the last ninety days. 16.60% of the stock is currently owned by insiders.
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Shares of AGCO Corporation (AGCO) traded down 1.02% on Friday, hitting $72.62. 519,376 shares of the stock traded hands. The firm has a market cap of $5.78 billion, a P/E ratio of 31.75 and a beta of 0.88. AGCO Corporation has a 52 week low of $46.75 and a 52 week high of $73.97. The stock has a 50-day moving average price of $69.21 and a 200 day moving average price of $65.61.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that AGCO Corporation will post $3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.
About AGCO Corporation
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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