Olstein Capital Management L.P. Purchases 6,000 Shares of AGCO Co. (NYSE:AGCO)

Olstein Capital Management L.P. grew its position in shares of AGCO Co. (NYSE:AGCO) by 100.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,000 shares of the industrial products company’s stock after buying an additional 6,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in AGCO were worth $1,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Permanent School Fund Corp lifted its holdings in AGCO by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 54,393 shares of the industrial products company’s stock worth $6,691,000 after acquiring an additional 704 shares during the period. Manchester Capital Management LLC increased its holdings in AGCO by 93.2% during the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Duality Advisers LP boosted its stake in AGCO by 183.7% in the first quarter. Duality Advisers LP now owns 16,259 shares of the industrial products company’s stock valued at $2,000,000 after acquiring an additional 10,527 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of AGCO by 222.6% during the 1st quarter. Quantbot Technologies LP now owns 19,983 shares of the industrial products company’s stock worth $2,458,000 after purchasing an additional 13,789 shares during the last quarter. Finally, AIA Group Ltd lifted its stake in AGCO by 40.8% in the first quarter. AIA Group Ltd now owns 11,549 shares of the industrial products company’s stock valued at $1,421,000 after purchasing an additional 3,345 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of AGCO traded up $0.87 during mid-day trading on Thursday, reaching $95.39. 28,969 shares of the stock traded hands, compared to its average volume of 769,771. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The firm has a fifty day moving average price of $95.60 and a 200 day moving average price of $99.53. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.97 earnings per share. As a group, equities research analysts predict that AGCO Co. will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. AGCO’s dividend payout ratio is 20.71%.

Analysts Set New Price Targets

A number of analysts have issued reports on AGCO shares. Barclays decreased their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. Citigroup upped their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. UBS Group lowered their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group cut their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, AGCO currently has an average rating of “Hold” and a consensus price target of $114.40.

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.