Candriam S.C.A. Trims Holdings in AGCO Co. (NYSE:AGCO)

Candriam S.C.A. cut its stake in AGCO Co. (NYSE:AGCO - Free Report) by 28.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,978 shares of the industrial products company's stock after selling 10,567 shares during the quarter. Candriam S.C.A.'s holdings in AGCO were worth $2,522,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in AGCO in the third quarter worth approximately $29,000. Allworth Financial LP grew its holdings in shares of AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock worth $30,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. increased its position in shares of AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in AGCO in the 4th quarter valued at about $33,000. Finally, Venturi Wealth Management LLC lifted its position in AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock valued at $36,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Stock Down 2.6 %

NYSE:AGCO traded down $2.42 during mid-day trading on Thursday, hitting $91.96. The stock had a trading volume of 884,785 shares, compared to its average volume of 822,447. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $125.76. The company has a market capitalization of $6.86 billion, a PE ratio of -16.16, a PEG ratio of 1.80 and a beta of 1.24. The stock has a 50-day simple moving average of $98.40 and a two-hundred day simple moving average of $96.50.

Remove Ads

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, equities research analysts anticipate that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. AGCO's payout ratio is currently -20.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AGCO shares. JPMorgan Chase & Co. lifted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research report on Wednesday, January 15th. Morgan Stanley started coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 target price for the company. StockNews.com upgraded AGCO from a "sell" rating to a "hold" rating in a research note on Friday, February 7th. Citigroup dropped their price objective on AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial increased their target price on AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $104.30.

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.