Voloridge Investment Management LLC Makes New Investment in AGCO Co. (NYSE:AGCO)

Voloridge Investment Management LLC acquired a new stake in AGCO Co. (NYSE:AGCO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 171,177 shares of the industrial products company's stock, valued at approximately $16,002,000. Voloridge Investment Management LLC owned 0.23% of AGCO at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of AGCO during the 4th quarter valued at $3,144,000. Olstein Capital Management L.P. lifted its position in shares of AGCO by 20.8% during the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company's stock valued at $1,355,000 after acquiring an additional 2,500 shares during the period. Alberta Investment Management Corp lifted its position in shares of AGCO by 98.5% during the 4th quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company's stock valued at $4,582,000 after acquiring an additional 24,320 shares during the period. Barclays PLC boosted its holdings in AGCO by 386.8% in the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock worth $24,389,000 after acquiring an additional 198,014 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in AGCO by 20.5% in the fourth quarter. Perigon Wealth Management LLC now owns 26,146 shares of the industrial products company's stock worth $2,615,000 after acquiring an additional 4,452 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AGCO shares. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $110.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Citigroup raised their price objective on AGCO from $90.00 to $110.00 and gave the company a "buy" rating in a report on Monday, May 5th. Morgan Stanley boosted their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Baird R W downgraded AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Wall Street Zen raised AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $104.10.

Insider Transactions at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the transaction, the senior vice president now owns 17,380 shares in the company, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.60% of the company's stock.

AGCO Price Performance

NYSE AGCO traded up $0.87 during trading on Tuesday, hitting $101.35. 792,041 shares of the stock traded hands, compared to its average volume of 896,260. The company has a market capitalization of $7.56 billion, a P/E ratio of -17.81, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The firm has a 50-day simple moving average of $91.60 and a 200-day simple moving average of $95.20. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $108.76.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.38. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The firm's revenue for the quarter was down 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.32 EPS. As a group, analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is -14.87%.

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.