Forum Financial Management LP Invests $251,000 in AGCO Corporation (NYSE:AGCO)

Forum Financial Management LP acquired a new position in shares of AGCO Corporation (NYSE:AGCO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,713 shares of the industrial products company's stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AGCO. GeoWealth Management LLC bought a new stake in shares of AGCO during the 4th quarter worth approximately $27,000. Citizens National Bank Trust Department grew its holdings in AGCO by 400.0% in the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock valued at $28,000 after buying an additional 240 shares in the last quarter. Abound Wealth Management acquired a new position in AGCO in the 1st quarter valued at $56,000. UMB Bank n.a. grew its holdings in AGCO by 140.7% in the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock valued at $75,000 after buying an additional 474 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in AGCO by 66.9% in the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock valued at $84,000 after buying an additional 364 shares in the last quarter. Institutional investors own 78.80% of the company's stock.

Insider Buying and Selling at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total transaction of $26,545.00. Following the completion of the transaction, the senior vice president directly owned 17,380 shares in the company, valued at $1,845,408.40. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.60% of the company's stock.

AGCO Stock Performance

Shares of AGCO opened at $107.05 on Friday. The firm has a market cap of $7.98 billion, a PE ratio of -13.72, a PEG ratio of 1.91 and a beta of 1.24. The stock's fifty day moving average price is $104.26 and its two-hundred day moving average price is $97.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 0.67. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $116.25.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.38. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The business's revenue was down 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 earnings per share. On average, equities research analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO announced that its Board of Directors has initiated a stock buyback program on Wednesday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio (DPR) is presently -14.87%.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several recent analyst reports. Citigroup restated a "neutral" rating and set a $110.00 price objective on shares of AGCO in a research report on Friday, May 30th. The Goldman Sachs Group increased their target price on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. UBS Group set a $106.00 price objective on AGCO in a research report on Tuesday, April 22nd. Oppenheimer restated an "outperform" rating and set a $115.00 price objective (up from $108.00) on shares of AGCO in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.89.

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.

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