Olstein Capital Management L.P. Acquires 6,000 Shares of AGCO Co. (NYSE:AGCO)

Olstein Capital Management L.P. raised its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 100.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,000 shares of the industrial products company's stock after purchasing an additional 6,000 shares during the period. Olstein Capital Management L.P.'s holdings in AGCO were worth $1,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Forum Financial Management LP lifted its holdings in AGCO by 5.5% in 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 period. Manchester Capital Management LLC boosted its holdings 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 valued at $28,000 after acquiring an additional 110 shares in the last quarter. Capital Insight Partners LLC increased its stake in shares of AGCO by 2.6% during the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company's stock valued at $431,000 after acquiring an additional 110 shares during the period. Farther Finance Advisors LLC raised its holdings in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after purchasing an additional 139 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in AGCO by 3.9% in the first quarter. William Blair Investment Management LLC now owns 3,766 shares of the industrial products company's stock worth $463,000 after purchasing an additional 143 shares during the period. Institutional investors own 78.80% of the company's stock.

AGCO Stock Performance

AGCO stock traded down $0.40 during trading hours on Thursday, reaching $94.12. 1,010,570 shares of the company were exchanged, compared to its average volume of 774,428. The stock has a 50-day moving average of $95.60 and a 200 day moving average of $99.53. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.94 and a beta of 1.25.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $3.97 earnings per share. The firm's revenue was down 24.8% on a year-over-year basis. As a group, research analysts anticipate that AGCO Co. will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's dividend payout ratio (DPR) is presently 20.71%.

Analysts Set New Price Targets

AGCO has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on shares of 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 decreased their price target on shares of AGCO from $107.00 to $104.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. Oppenheimer cut their price objective on AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Robert W. Baird decreased their price target on AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $114.40.

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.