Adecoagro (NYSE:AGRO) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Adecoagro (NYSE:AGRO) from a hold rating to a buy rating in a research note released on Monday morning.

Adecoagro Stock Up 0.0 %

AGRO opened at $11.30 on Monday. Adecoagro has a twelve month low of $8.33 and a twelve month high of $12.51. The company has a quick ratio of 1.20, a current ratio of 2.14 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $10.78 and a 200 day moving average price of $10.71. The company has a market cap of $1.18 billion, a PE ratio of 5.35 and a beta of 1.12.

Adecoagro (NYSE:AGRO) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.15) earnings per share for the quarter. Adecoagro had a return on equity of 10.86% and a net margin of 17.42%. The company had revenue of $263.95 million for the quarter. Sell-side analysts expect that Adecoagro will post 1.69 earnings per share for the current fiscal year.

Adecoagro Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 14th will be issued a $0.1682 dividend. This is an increase from Adecoagro’s previous semi-annual dividend of $0.17. The ex-dividend date is Monday, May 13th. This represents a yield of 2.9%. Adecoagro’s dividend payout ratio is presently 15.64%.

Institutional Trading of Adecoagro

A number of hedge funds have recently bought and sold shares of AGRO. Raymond James & Associates acquired a new stake in Adecoagro in the 3rd quarter valued at about $525,000. Bank of New York Mellon Corp raised its holdings in Adecoagro by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,943,599 shares of the company’s stock valued at $34,411,000 after acquiring an additional 25,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Adecoagro by 0.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 275,063 shares of the company’s stock valued at $3,215,000 after acquiring an additional 1,280 shares during the last quarter. NBC Securities Inc. acquired a new stake in Adecoagro in the 3rd quarter valued at about $54,000. Finally, abrdn plc raised its holdings in Adecoagro by 15.6% in the 3rd quarter. abrdn plc now owns 1,005,939 shares of the company’s stock valued at $11,759,000 after acquiring an additional 135,990 shares during the last quarter. Institutional investors and hedge funds own 45.25% of the company’s stock.

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.