Blue Harbour Group buys $310,704,355 stake in AGCO Corporation (AGCO)

AGCO Corporation (AGCO) : Blue Harbour Group scooped up 70,000 additional shares in AGCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 6,589,700 shares of AGCO Corporation which is valued at $310,704,355.AGCO Corporation makes up approximately 9.94% of Blue Harbour Group’s portfolio.

Other Hedge Funds, Including , Brandywine Global Investment Management reduced its stake in AGCO by selling 13,666 shares or 3.82% in the most recent quarter. The Hedge Fund company now holds 343,617 shares of AGCO which is valued at $16,201,542. AGCO Corporation makes up approx 0.10% of Brandywine Global Investment Management’s portfolio.Bluemountain Capital Management boosted its stake in AGCO in the latest quarter, The investment management firm added 10,372 additional shares and now holds a total of 25,481 shares of AGCO Corporation which is valued at $1,201,429. AGCO Corporation makes up approx 0.04% of Bluemountain Capital Management’s portfolio.Contrarius Investment Management Ltd reduced its stake in AGCO by selling 1,531 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 36,067 shares of AGCO which is valued at $1,758,988. AGCO Corporation makes up approx 0.14% of Contrarius Investment Management Ltd’s portfolio.

AGCO Corporation closed down -1.1 points or -2.27% at $47.44 with 7,30,172 shares getting traded on Thursday. Post opening the session at $48.58, the shares hit an intraday low of $47.21 and an intraday high of $48.83 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, AGCO Corporation reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.33 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.92. The company had revenue of $1995.60 million for the quarter, compared to analysts expectations of $1881.83 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.25 EPS.

Many Wall Street Analysts have commented on AGCO Corporation. AGCO Corporation was Downgraded by Piper Jaffray to ” Underweight” on Jul 25, 2016. AGCO Corporation was Downgraded by JP Morgan to ” Underweight” on Jun 27, 2016.

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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