Candriam S.C.A. Sells 15,013 Shares of AGCO Corporation $AGCO

Key Points

• Candriam S.C.A. reduced its stake in AGCO Corporation by 55.6% in the first quarter, leaving it with 11,965 shares valued at $1,108,000.
• Several institutional investors, including Dimensional Fund Advisors and UBS AM, increased their holdings in AGCO, with UBS AM raising theirs by an impressive 534.7%.
• AGCO recently announced a quarterly dividend of $0.29 per share and a share repurchase program allowing for up to $1.00 billion in buybacks, suggesting confidence in the stock’s value.

Candriam S.C.A. lessened its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 55.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,965 shares of the industrial products company's stock after selling 15,013 shares during the quarter. Candriam S.C.A.'s holdings in AGCO were worth $1,108,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AGCO. GeoWealth Management LLC bought a new stake in shares of AGCO during the fourth quarter worth about $27,000. MetLife Investment Management LLC boosted its stake in AGCO by 9.1% during the 4th quarter. MetLife Investment Management LLC now owns 34,929 shares of the industrial products company's stock valued at $3,265,000 after purchasing an additional 2,905 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in AGCO by 45.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,023 shares of the industrial products company's stock worth $563,000 after purchasing an additional 1,880 shares in the last quarter. Hsbc Holdings PLC increased its holdings in AGCO by 5.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,257 shares of the industrial products company's stock worth $1,053,000 after purchasing an additional 568 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its stake in shares of AGCO by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 23,675 shares of the industrial products company's stock worth $2,213,000 after purchasing an additional 7,087 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the sale, the senior vice president owned 16,189 shares in the company, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.60% of the stock is owned by corporate insiders.

AGCO Trading Down 4.5%

Shares of NYSE:AGCO traded down $5.14 during trading on Friday, reaching $108.00. 682,216 shares of the company traded hands, compared to its average volume of 862,316. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. AGCO Corporation has a 52-week low of $73.79 and a 52-week high of $121.16. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 80.60, a P/E/G ratio of 1.79 and a beta of 1.21. The business's fifty day moving average is $109.88 and its 200-day moving average is $100.05.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.29. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.AGCO's quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO declared that its board has initiated a stock repurchase plan on Wednesday, July 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO's payout ratio is currently 86.57%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group reaffirmed a "neutral" rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. The Goldman Sachs Group lifted their price objective on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Oppenheimer upped their target price on shares of AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of AGCO from $130.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, AGCO currently has an average rating of "Hold" and a consensus price target of $109.63.

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.