Adecoagro S.A. (NYSE:AGRO – Get Free Report) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 1,130,000 shares, a drop of 8.1% from the December 15th total of 1,230,000 shares. Based on an average daily volume of 599,900 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.3% of the shares of the company are short sold.
Hedge Funds Weigh In On Adecoagro
Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in Adecoagro during the third quarter valued at about $37,000. Point72 Hong Kong Ltd purchased a new stake in Adecoagro in the second quarter worth approximately $42,000. Blue Trust Inc. lifted its holdings in shares of Adecoagro by 1,281.5% in the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock worth $81,000 after acquiring an additional 6,792 shares during the last quarter. Quarry LP boosted its stake in shares of Adecoagro by 259.4% in the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock valued at $74,000 after purchasing an additional 5,484 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Adecoagro during the 3rd quarter valued at $94,000. 45.25% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, UBS Group started coverage on Adecoagro in a research report on Monday, October 14th. They set a “neutral” rating and a $12.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.63.
Adecoagro Price Performance
NYSE AGRO traded down $0.19 on Friday, hitting $9.66. The stock had a trading volume of 614,906 shares, compared to its average volume of 429,238. The firm has a 50-day moving average of $10.31 and a 200-day moving average of $10.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40. Adecoagro has a 52-week low of $8.72 and a 52-week high of $12.07. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04.
Adecoagro Increases Dividend
The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were paid a dividend of $0.174 per share. This is a positive change from Adecoagro’s previous Semi-Annual dividend of $0.16. The ex-dividend date was Tuesday, November 12th. This represents a yield of 2.9%. Adecoagro’s dividend payout ratio (DPR) is currently 23.33%.
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.
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