AGCO Corporation $AGCO Stock Position Lowered by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its stake in AGCO Corporation to 2,741,837 shares, representing 1.0% of its investment portfolio, valued at approximately $253.81 million.
• AGCO reported a quarterly earnings per share (EPS) of $1.35, exceeding expectations and negative year-on-year revenue growth of 18.8%, with a total revenue of $2.64 billion.
• The company initiated a $1.00 billion stock repurchase plan, allowing the reacquisition of up to 12.2% of its shares, signaling belief in its shares being undervalued.

Fuller & Thaler Asset Management Inc. lessened its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 0.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,741,837 shares of the industrial products company's stock after selling 2,296 shares during the period. AGCO accounts for approximately 1.0% of Fuller & Thaler Asset Management Inc.'s portfolio, making the stock its 13th largest position. Fuller & Thaler Asset Management Inc. owned approximately 3.68% of AGCO worth $253,812,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new stake in shares of AGCO during the first quarter worth about $1,212,000. GAMMA Investing LLC increased its holdings in AGCO by 66.9% in the first 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. Envestnet Asset Management Inc. increased its holdings in AGCO by 9.0% in the first quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company's stock valued at $9,252,000 after buying an additional 8,293 shares in the last quarter. Baker Ellis Asset Management LLC increased its holdings in AGCO by 9.0% in the first quarter. Baker Ellis Asset Management LLC now owns 29,934 shares of the industrial products company's stock valued at $2,771,000 after buying an additional 2,480 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in AGCO by 140.7% in the first 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. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Stock Performance

NYSE AGCO traded up $4.6920 on Friday, hitting $116.5820. The stock had a trading volume of 604,567 shares, compared to its average volume of 953,488. The company's 50-day moving average is $108.98 and its two-hundred day moving average is $99.66. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 87.00, a P/E/G ratio of 1.76 and a beta of 1.21. AGCO Corporation has a one year low of $73.79 and a one year high of $121.16. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

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

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.0%. AGCO's dividend payout ratio is currently 86.57%.

AGCO announced that its Board of Directors has approved a stock buyback 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 reacquire up to 12.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AGCO shares. Morgan Stanley raised their price objective on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group reissued a "neutral" rating and set a $119.00 price objective (up from $100.00) on shares of AGCO in a research note on Friday, August 8th. The Goldman Sachs Group lifted their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $109.63.

Insider Buying and Selling

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 16,189 shares of the company's stock, valued at $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is currently owned by corporate insiders.

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.