Impax Asset Management Group plc Acquires 12,284 Shares of AGCO Corporation (NYSE:AGCO)

Impax Asset Management Group plc raised its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,475 shares of the industrial products company's stock after acquiring an additional 12,284 shares during the period. Impax Asset Management Group plc owned approximately 0.17% of AGCO worth $11,430,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AGCO. Charles Schwab Investment Management Inc. raised its stake in shares of AGCO by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,669 shares of the industrial products company's stock worth $43,905,000 after buying an additional 15,531 shares in the last quarter. LPL Financial LLC grew its holdings in shares of AGCO by 4.9% in the 4th quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company's stock worth $2,135,000 after acquiring an additional 1,016 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AGCO by 12.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,692 shares of the industrial products company's stock worth $1,467,000 after acquiring an additional 1,788 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of AGCO by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock worth $580,000 after acquiring an additional 144 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of AGCO in the 4th quarter worth $16,845,000. Institutional investors own 78.80% of the company's stock.

Insider Buying and Selling

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction 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 transaction, the senior vice president directly owned 17,380 shares in the company, valued at $1,845,408.40. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 16.90% of the company's stock.

AGCO Stock Performance

AGCO stock traded up $1.35 during trading hours on Tuesday, hitting $109.91. The stock had a trading volume of 802,774 shares, compared to its average volume of 886,003. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $115.00. The company has a market cap of $8.20 billion, a PE ratio of -14.09, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24. The company has a 50-day moving average of $101.93 and a two-hundred day moving average of $96.61. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data 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. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company posted $2.32 EPS. The company's revenue was down 30.0% compared to the same quarter last year. On average, equities research analysts anticipate that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, May 15th were given a $0.29 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.06%. AGCO's payout ratio is -14.87%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group set a $106.00 target price on AGCO in a report on Tuesday, April 22nd. Morgan Stanley boosted their price objective on shares of AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. Citigroup restated a "neutral" rating and issued a $110.00 target price on shares of AGCO in a research note on Friday, May 30th. Oppenheimer lowered their target price on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, AGCO currently has a consensus rating of "Hold" and a consensus price target of $104.10.

AGCO 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.