Dark Forest Capital Management LP Invests $3.49 Million in AGCO Corporation $AGCO

Key Points

• Dark Forest Capital Management LP has acquired a new stake in AGCO Corporation, purchasing 37,653 shares valued at approximately $3.5 million, representing 0.05% ownership of the company.
• Several institutional investors have increased their stakes in AGCO, including Northern Trust Corp, which raised its holdings by 27.4%, now owning 557,301 shares worth over $52 million.
• AGCO recently announced a quarterly dividend of $0.29 per share and initiated a stock buyback plan allowing for the buyback of up to $1 billion in outstanding shares.

Dark Forest Capital Management LP bought a new stake in AGCO Corporation (NYSE:AGCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 37,653 shares of the industrial products company's stock, valued at approximately $3,486,000. Dark Forest Capital Management LP owned approximately 0.05% of AGCO as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Citizens National Bank Trust Department lifted its stake in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after buying an additional 240 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in AGCO in the 1st quarter worth $32,000. Quarry LP purchased a new position in AGCO in the 1st quarter worth $37,000. Brooklyn Investment Group raised its stake in AGCO by 98.7% in the 1st quarter. Brooklyn Investment Group now owns 590 shares of the industrial products company's stock worth $55,000 after acquiring an additional 293 shares during the last quarter. Finally, Abound Wealth Management purchased a new position in AGCO in the 1st quarter worth $56,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction on Monday, August 11th. The shares were sold at an average price of $109.40, for a total value of $1,094,000.00. Following the completion of the transaction, the senior vice president owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.60% of the company's stock.

AGCO Stock Performance

Shares of AGCO stock traded up $1.35 during trading on Friday, hitting $111.04. 795,645 shares of the company's stock were exchanged, compared to its average volume of 703,582. AGCO Corporation has a 52-week low of $73.79 and a 52-week high of $121.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The business has a 50-day simple moving average of $110.70 and a 200-day simple moving average of $100.49. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 82.87, a PEG ratio of 1.75 and a beta of 1.20.

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

AGCO declared that its board has authorized a share repurchase plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. AGCO's payout ratio is presently 86.57%.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on AGCO from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, September 2nd. Citigroup restated a "neutral" rating and issued a $110.00 target price on shares of AGCO in a research note on Friday, May 30th. Morgan Stanley raised their target price on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group reissued a "neutral" rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AGCO presently has a consensus rating of "Hold" and an average target price of $109.38.

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.