Hotchkis & Wiley Capital Management LLC Makes New $13.24 Million Investment in AGCO Co. (NYSE:AGCO)

Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of AGCO Co. (NYSE:AGCO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 135,320 shares of the industrial products company’s stock, valued at approximately $13,242,000. Hotchkis & Wiley Capital Management LLC owned about 0.18% of AGCO at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in AGCO by 377.0% in the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock valued at $2,177,000 after acquiring an additional 13,985 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of AGCO during the 1st quarter valued at about $247,000. Mather Group LLC. increased its position in shares of AGCO by 40.6% during the second quarter. Mather Group LLC. now owns 630 shares of the industrial products company’s stock valued at $62,000 after buying an additional 182 shares during the period. CWM LLC increased its position in shares of AGCO by 71.0% during the second quarter. CWM LLC now owns 10,455 shares of the industrial products company’s stock valued at $1,023,000 after buying an additional 4,341 shares during the period. Finally, CX Institutional raised its stake in AGCO by 4.3% in the second quarter. CX Institutional now owns 36,179 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 1,489 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AGCO shares. BMO Capital Markets began coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 target price on the stock. The Goldman Sachs Group reduced their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer decreased their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup boosted their target price on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday. They issued an “equal weight” rating and a $101.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.18.

AGCO Price Performance

Shares of AGCO opened at $100.61 on Wednesday. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a market capitalization of $7.51 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The firm has a 50 day moving average of $97.44 and a 200 day moving average of $96.81. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm earned $3.97 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared 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. 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 1.15%. AGCO’s dividend payout ratio is presently 51.33%.

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.