Fuller & Thaler Asset Management Inc. Has $253.81 Million Holdings in AGCO Corporation $AGCO

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

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of AGCO during the 1st quarter worth approximately $1,212,000. GAMMA Investing LLC grew its holdings in shares of AGCO by 66.9% during the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock worth $84,000 after purchasing an additional 364 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of AGCO by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company's stock worth $9,252,000 after purchasing an additional 8,293 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of AGCO by 140.7% during the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock worth $75,000 after purchasing an additional 474 shares in the last quarter. Finally, Baker Ellis Asset Management LLC grew its holdings in shares of AGCO by 9.0% during the 1st quarter. Baker Ellis Asset Management LLC now owns 29,934 shares of the industrial products company's stock worth $2,771,000 after purchasing an additional 2,480 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AGCO shares. Citigroup reissued a "neutral" rating and set a $110.00 price objective on shares of AGCO in a report 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 report on Monday, May 12th. The Goldman Sachs Group upped their price target 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 reiterated a "neutral" rating and issued a $119.00 price target (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Finally, Oppenheimer upped their price target on AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $109.63.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction on Monday, August 11th. The stock was 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 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company's stock.

AGCO Trading Up 0.7%

Shares of AGCO opened at $112.20 on Monday. The stock has a fifty day moving average price of $107.82 and a two-hundred day moving average price of $99.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. AGCO Corporation has a 52-week low of $73.79 and a 52-week high of $121.16. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 83.73, a PEG ratio of 1.76 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $2.53 EPS. The business's revenue for the quarter was down 18.8% compared to the same quarter last year. Analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

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

AGCO declared that its board has initiated a stock repurchase plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in outstanding 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 typically an indication that the company's leadership believes its shares are undervalued.

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.

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