Adecoagro (NYSE:AGRO) Trading Up 3.1% – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) shares were up 3.1% during mid-day trading on Friday . The stock traded as high as $11.08 and last traded at $11.08. Approximately 31,209 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 722,144 shares. The stock had previously closed at $10.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AGRO shares. Bank of America cut their price objective on shares of Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Monday, September 9th. Morgan Stanley cut shares of Adecoagro from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.50 to $12.50 in a report on Tuesday, September 17th. StockNews.com lowered shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, UBS Group began coverage on shares of Adecoagro in a research note on Monday, October 14th. They set a “neutral” rating and a $12.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.63.

Adecoagro Stock Up 4.7 %

The company’s fifty day simple moving average is $11.37 and its 200 day simple moving average is $10.52. The company has a quick ratio of 0.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.17 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

Adecoagro (NYSE:AGRO) last released its earnings results on Monday, August 12th. The company reported $1.03 earnings per share for the quarter. The firm had revenue of $411.42 million for the quarter. Adecoagro had a net margin of 11.25% and a return on equity of 10.28%. Analysts anticipate that Adecoagro S.A. will post 1.57 earnings per share for the current fiscal year.

Adecoagro Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th will be given a dividend of $0.174 per share. This represents a yield of 2.9%. This is an increase from Adecoagro’s previous Semi-Annual dividend of $0.16. The ex-dividend date is Tuesday, November 12th. Adecoagro’s dividend payout ratio is 23.33%.

Institutional Investors Weigh In On Adecoagro

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners increased its stake in shares of Adecoagro by 410.7% in the first quarter. Boston Partners now owns 679,537 shares of the company’s stock worth $7,489,000 after purchasing an additional 546,465 shares in the last quarter. Ping Capital Management Inc. purchased a new position in Adecoagro during the second quarter valued at $1,099,000. Herr Investment Group LLC grew its position in shares of Adecoagro by 30.3% during the second quarter. Herr Investment Group LLC now owns 2,649,555 shares of the company’s stock valued at $25,780,000 after purchasing an additional 616,345 shares in the last quarter. Discovery Capital Management LLC CT raised its holdings in shares of Adecoagro by 39.1% during the 2nd quarter. Discovery Capital Management LLC CT now owns 2,376,614 shares of the company’s stock worth $23,124,000 after acquiring an additional 667,878 shares in the last quarter. Finally, Helikon Investments Ltd raised its holdings in shares of Adecoagro by 169.2% during the 3rd quarter. Helikon Investments Ltd now owns 6,941,857 shares of the company’s stock worth $76,846,000 after acquiring an additional 4,363,628 shares in the last quarter. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.