LSV Asset Management Sells 261,035 Shares of AGCO Corporation (NYSE:AGCO)

Key Points

• LSV Asset Management sold 261,035 shares of AGCO Corporation, reducing its stake by 9.2% to approximately 2.58 million shares valued at $238.76 million.
• AGCO recently announced a $1 billion share repurchase program, indicating that its leadership believes the shares are undervalued.
• The company reported a net margin of 0.98% and earnings per share of $1.35, surpassing analysts' expectations amid a 18.8% decline in revenue year-over-year.

LSV Asset Management lessened its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,579,266 shares of the industrial products company's stock after selling 261,035 shares during the period. LSV Asset Management owned approximately 3.46% of AGCO worth $238,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after purchasing an additional 3,654,350 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AGCO by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company's stock worth $278,951,000 after purchasing an additional 258,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock valued at $271,259,000 after purchasing an additional 2,444,615 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of AGCO by 1.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company's stock valued at $256,522,000 after buying an additional 39,966 shares during the last quarter. Finally, Invesco Ltd. boosted its position in AGCO by 68.7% during the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after acquiring an additional 961,081 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Price Performance

Shares of AGCO stock traded up $0.77 during trading hours on Monday, hitting $114.38. The company's stock had a trading volume of 702,400 shares, compared to its average volume of 903,372. The business has a fifty day moving average of $105.69 and a 200-day moving average of $98.77. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 85.36, a P/E/G ratio of 1.83 and a beta of 1.21. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $121.16.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results 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 period in the prior year, the firm earned $2.53 EPS. The firm's quarterly revenue was down 18.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AGCO Corporation will post 4.2 EPS 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 issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. AGCO's payout ratio is presently 86.57%.

AGCO announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AGCO. JPMorgan Chase & Co. increased their price target on AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Friday. Oppenheimer raised their target price on AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group raised their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Citigroup reissued a "neutral" rating and issued a $110.00 price target on shares of AGCO in a research report on Friday, May 30th. Finally, UBS Group set a $106.00 price objective on AGCO in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, AGCO presently has an average rating of "Hold" and an average price target of $106.67.

Insider Activity at AGCO

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 completion of the sale, the senior vice president owned 17,380 shares of the company's stock, valued at $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 16.90% of the stock is owned by insiders.

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.