Olstein Capital Management L.P. Has $1.17 Million Holdings in AGCO Co. (NYSE:AGCO)

Olstein Capital Management L.P. lifted its stake in AGCO Co. (NYSE:AGCO) by 100.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the industrial products company’s stock after purchasing an additional 6,000 shares during the period. Olstein Capital Management L.P.’s holdings in AGCO were worth $1,174,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of AGCO by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock valued at $66,959,000 after buying an additional 150,656 shares during the period. Harbor Capital Advisors Inc. bought a new position in AGCO in the third quarter valued at $5,536,000. Farther Finance Advisors LLC increased its position in shares of AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 139 shares during the last quarter. US Bancorp DE increased its position in shares of AGCO by 29.3% during the 3rd quarter. US Bancorp DE now owns 1,623 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 368 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of AGCO by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,802 shares of the industrial products company’s stock valued at $1,643,000 after buying an additional 485 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Up 0.9 %

Shares of AGCO stock traded up $0.87 during trading hours on Thursday, reaching $95.39. The company’s stock had a trading volume of 28,969 shares, compared to its average volume of 769,771. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. The stock’s fifty day simple moving average is $95.60 and its two-hundred day simple moving average is $99.53. The company has a market capitalization of $7.12 billion, a P/E ratio of 16.88, a P/E/G ratio of 0.94 and a beta of 1.25. AGCO Co. has a one year low of $84.35 and a one year high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. AGCO’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.97 EPS. On average, research analysts forecast that AGCO Co. will post 7.87 earnings per share for the current year.

AGCO Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays dropped their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Citigroup lifted their price target on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Truist Financial upped their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer decreased their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $114.40.

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.