Hodges Capital Management Inc. Purchases 143 Shares of AGCO Co. (NYSE:AGCO)

Hodges Capital Management Inc. increased its position in AGCO Co. (NYSE:AGCO) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,520 shares of the industrial products company’s stock after buying an additional 143 shares during the period. Hodges Capital Management Inc.’s holdings in AGCO were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC grew its holdings in AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares in the last quarter. Manchester Capital Management LLC increased its holdings in AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in AGCO in the 1st quarter worth $30,000. Blue Trust Inc. lifted its stake in AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares in the last quarter. Finally, American National Bank bought a new position in shares of AGCO during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

AGCO opened at $89.58 on Thursday. The business has a fifty day moving average of $93.57 and a 200 day moving average of $105.70. The stock has a market cap of $6.68 billion, a P/E ratio of 6.06, a PEG ratio of 0.85 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $132.89.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.29 earnings per share. As a group, sell-side analysts anticipate that AGCO Co. will post 8 EPS for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, August 15th. AGCO’s dividend payout ratio is presently 7.85%.

Analyst Ratings Changes

Several research firms have weighed in on AGCO. Barclays cut their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. The Goldman Sachs Group lowered their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Truist Financial reissued a “buy” rating and set a $118.00 price objective (down from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Raymond James initiated coverage on AGCO in a research report on Friday, June 28th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $118.91.

Insider Activity at AGCO

In other news, Director Lange Bob De acquired 1,420 shares of AGCO stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the acquisition, the director now directly owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AGCO news, Director Lange Bob De acquired 1,420 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $87.91 per share, with a total value of $124,832.20. Following the completion of the purchase, the director now directly owns 7,007 shares in the company, valued at $615,985.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Arnold bought 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the transaction, the director now directly owns 20,465 shares in the company, valued at approximately $1,794,575.85. The disclosure for this purchase can be found here. 16.60% of the stock is owned by company 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.