Southernsun Asset Management Lowers stake in AGCO Corporation (AGCO)

AGCO Corporation (AGCO) : Southernsun Asset Management reduced its stake in AGCO Corporation by 15.1% during the most recent quarter end. The investment management company now holds a total of 4,079,608 shares of AGCO Corporation which is valued at $210 Million after selling 725,684 shares in AGCO Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.AGCO Corporation makes up approximately 5.58% of Southernsun Asset Management’s portfolio.

Other Hedge Funds, Including , Marshall Wace Llp reduced its stake in AGCO by selling 27,533 shares or 52.14% in the most recent quarter. The Hedge Fund company now holds 25,269 shares of AGCO which is valued at $1.3 Million. AGCO Corporation makes up approx 0.01% of Marshall Wace Llp’s portfolio.Snow Capital Management Lp reduced its stake in AGCO by selling 94,011 shares or 9.95% in the most recent quarter. The Hedge Fund company now holds 850,547 shares of AGCO which is valued at $43.8 Million. AGCO Corporation makes up approx 1.97% of Snow Capital Management Lp’s portfolio.Landscape Capital Management L.l.c. boosted its stake in AGCO in the latest quarter, The investment management firm added 7,300 additional shares and now holds a total of 18,100 shares of AGCO Corporation which is valued at $931,607. AGCO Corporation makes up approx 0.12% of Landscape Capital Management L.l.c.’s portfolio. Ridgeworth Capital Management sold out all of its stake in AGCO during the most recent quarter. The investment firm sold 304 shares of AGCO which is valued $15,647. Allegis Investment Advisors sold out all of its stake in AGCO during the most recent quarter. The investment firm sold 9 shares of AGCO which is valued $463.

AGCO Corporation opened for trading at $51.5 and hit $51.8 on the upside on Wednesday, eventually ending the session at $51.59, with a gain of 0.84% or 0.43 points. The heightened volatility saw the trading volume jump to 7,18,401 shares. Company has a market cap of $4,255 M.

On the company’s financial health, AGCO Corporation reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.05. The company had revenue of $1559.30 million for the quarter, compared to analysts expectations of $1470.72 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on AGCO Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 52 from a previous price target of $45 .

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment including tractors combines self-propelled sprayers hay tools forage equipment seeding and tillage implements and grain storage and protein production systems. Its products are marketed under various brands including Challenger Fendt GSI Massey Ferguson and Valtra. It also provides retail financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. The Company’s geographical segments include North America South America Europe/Africa/Middle East and Asia/Pacific. The Company’s AGCO Power engines division produces diesel engines gears and generating sets. It also offers precision farming technologies which are installed in its products and include satellite-based steering field data collection yield mapping and telemetry-based fleet management systems.

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