Hotchkis & Wiley Capital Management LLC Acquires New Stake in AGCO Co. (NYSE:AGCO)

Hotchkis & Wiley Capital Management LLC bought a new stake in AGCO Co. (NYSE:AGCO) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 135,320 shares of the industrial products company’s stock, valued at approximately $13,242,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock worth $362,152,000 after purchasing an additional 63,432 shares during the period. Dimensional Fund Advisors LP raised its position in AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the period. Pacer Advisors Inc. boosted its stake in shares of AGCO by 34.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after acquiring an additional 538,955 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of AGCO by 3.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after acquiring an additional 66,303 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock worth $171,090,000 after purchasing an additional 605,509 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Trading Down 0.9 %

AGCO stock opened at $100.61 on Wednesday. The firm has a market cap of $7.51 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The firm has a fifty day moving average price of $97.44 and a 200 day moving average price of $96.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned $3.97 earnings per share. The business’s quarterly revenue was down 24.8% on a year-over-year basis. Sell-side analysts anticipate that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 15th. AGCO’s payout ratio is 51.33%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of several analyst reports. Truist Financial lifted their target price on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Oppenheimer lowered their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group dropped their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AGCO presently has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Company 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.