Magnetar Financial LLC Takes $1.33 Million Position in AGCO Co. (NYSE:AGCO)

Magnetar Financial LLC acquired a new position in shares of AGCO Co. (NYSE:AGCO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,613 shares of the industrial products company’s stock, valued at approximately $1,332,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake in shares of AGCO by 103.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock valued at $153,814,000 after purchasing an additional 799,429 shares during the period. Vanguard Group Inc. grew its holdings in shares of AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after buying an additional 784,617 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after buying an additional 391,591 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after acquiring an additional 335,092 shares in the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new position in AGCO during the 1st quarter worth approximately $23,569,000. 78.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AGCO. Raymond James started coverage on shares of AGCO in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Barclays cut their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 18th. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. BMO Capital Markets began coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 target price on the stock. Finally, UBS Group decreased 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $118.91.

Insider Transactions at AGCO

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

AGCO Stock Performance

Shares of NYSE AGCO opened at $94.76 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $7.07 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.83 and a beta of 1.25. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock has a 50 day moving average of $92.25 and a 200-day moving average of $104.05.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the firm earned $4.29 earnings per share. As a group, equities research analysts predict that AGCO Co. will post 8 EPS for the current year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.22%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

AGCO Company 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.