Wedge Capital Management L L P NC Raises Stake in AGCO Co. (NYSE:AGCO)

Wedge Capital Management L L P NC raised its position in AGCO Co. (NYSE:AGCO) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,384 shares of the industrial products company’s stock after purchasing an additional 3,246 shares during the period. Wedge Capital Management L L P NC owned 0.16% of AGCO worth $11,881,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AGCO. Strs Ohio increased its position in shares of AGCO by 0.7% during the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after purchasing an additional 87 shares in the last quarter. SummerHaven Investment Management LLC increased its position in AGCO by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares during the period. Manchester Capital Management LLC lifted its stake in 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 buying an additional 110 shares during the last quarter. Stonehearth Capital Management LLC lifted its stake in AGCO by 6.8% in the first quarter. Stonehearth Capital Management LLC now owns 1,778 shares of the industrial products company’s stock valued at $219,000 after buying an additional 113 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of 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 acquiring an additional 117 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

Shares of NYSE:AGCO traded up $0.02 on Friday, reaching $88.15. 110,632 shares of the company were exchanged, compared to its average volume of 778,052. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $132.94. The company has a 50-day moving average of $97.30 and a 200-day moving average of $108.68. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 5.96, a price-to-earnings-growth ratio of 0.86 and a beta of 1.27.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share 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 firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period last year, the company posted $4.29 EPS. Equities analysts forecast that AGCO Co. will post 7.89 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s payout ratio is currently 7.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Citigroup initiated coverage on AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price objective for the company. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. UBS Group cut their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, BMO Capital Markets started coverage on shares of AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective on the stock. One investment 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 data from MarketBeat.com, AGCO has a consensus rating of “Hold” and an average target price of $118.91.

Insider Buying and Selling at AGCO

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

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.