First Manhattan Co. decreased its position in shares of AgroFresh Solutions, Inc. (NASDAQ:AGFS) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,830,635 shares of the basic materials company’s stock after selling 228,200 shares during the period. First Manhattan Co. owned 0.08% of AgroFresh Solutions worth $27,503,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its stake in AgroFresh Solutions by 8.9% in the first quarter. TIAA CREF Investment Management LLC now owns 69,347 shares of the basic materials company’s stock worth $303,000 after buying an additional 5,648 shares during the last quarter. Bank of New York Mellon Corp raised its stake in AgroFresh Solutions by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 99,811 shares of the basic materials company’s stock worth $437,000 after buying an additional 5,626 shares during the last quarter. Weber Alan W raised its stake in AgroFresh Solutions by 10.8% in the first quarter. Weber Alan W now owns 144,061 shares of the basic materials company’s stock worth $630,000 after buying an additional 14,061 shares during the last quarter. Geode Capital Management LLC raised its stake in AgroFresh Solutions by 2.9% in the first quarter. Geode Capital Management LLC now owns 204,662 shares of the basic materials company’s stock worth $894,000 after buying an additional 5,753 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in AgroFresh Solutions during the second quarter worth approximately $900,000. 71.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of AgroFresh Solutions, Inc. (NASDAQ AGFS) opened at 7.85 on Wednesday. The firm has a 50-day moving average price of $7.74 and a 200-day moving average price of $5.33. The firm’s market capitalization is $394.70 million. AgroFresh Solutions, Inc. has a 52 week low of $1.96 and a 52 week high of $9.05.
AgroFresh Solutions (NASDAQ:AGFS) last posted its quarterly earnings results on Tuesday, May 9th. The basic materials company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by $0.04. The business had revenue of $32.73 million for the quarter. AgroFresh Solutions had a negative net margin of 60.21% and a negative return on equity of 7.81%. On average, equities analysts expect that AgroFresh Solutions, Inc. will post ($0.16) earnings per share for the current fiscal year.
A number of research firms recently commented on AGFS. ValuEngine raised AgroFresh Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. Citigroup Inc. raised their price target on AgroFresh Solutions from $3.25 to $5.50 and gave the stock a “neutral” rating in a research note on Tuesday, April 11th. Finally, BidaskClub lowered AgroFresh Solutions from a “strong-buy” rating to a “buy” rating in a research note on Monday.
In other AgroFresh Solutions news, major shareholder Chemical Co /De/ Dow purchased 32,205 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were purchased at an average cost of $6.99 per share, with a total value of $225,112.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 172,088 shares of company stock worth $1,201,285 over the last three months. 19.40% of the stock is owned by insiders.
AgroFresh Solutions Company Profile
AgroFresh Solutions, Inc, formerly Boulevard Acquisition Corp., is a developer of agricultural technologies that preserve the freshness and value of fresh produce, including apples, pears, kiwifruit, avocados and bananas, as well as flowers. The Company’s principal product, The SmartFresh Quality System (SmartFresh), regulates the post-harvest ripening effects of ethylene, the naturally occurring plant hormone that triggers ripening in certain fruits and vegetables, through technology.
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