First Manhattan Co. Has $27.50 Million Stake in AgroFresh Solutions, Inc. (AGFS)

First Manhattan Co. cut its stake 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. 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 7.62% of AgroFresh Solutions worth $27,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners increased its stake in AgroFresh Solutions by 2.2% in the first quarter. Boston Partners now owns 542,555 shares of the basic materials company’s stock worth $2,371,000 after buying an additional 11,465 shares during the period. Bank of New York Mellon Corp increased 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 period. TIAA CREF Investment Management LLC increased 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 period. Weber Alan W increased 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 period. Finally, Geode Capital Management LLC increased 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 period. Institutional investors own 71.84% of the company’s stock.

AgroFresh Solutions, Inc. (AGFS) traded down 1.75% during trading on Friday, hitting $7.30. The stock had a trading volume of 272,529 shares. The stock’s market cap is $367.46 million. AgroFresh Solutions, Inc. has a 1-year low of $1.96 and a 1-year high of $9.05. The firm’s 50-day moving average price is $7.82 and its 200-day moving average price is $5.54.

AgroFresh Solutions (NASDAQ:AGFS) last announced its earnings results on Wednesday, August 9th. The basic materials company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.31. The firm had revenue of $16.39 million during the quarter. AgroFresh Solutions had a negative net margin of 43.81% and a negative return on equity of 0.22%. On average, equities research analysts predict that AgroFresh Solutions, Inc. will post ($0.16) earnings per share for the current fiscal year.

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A number of research firms recently weighed in on AGFS. Citigroup Inc. restated a “neutral” rating and issued a $9.00 price target (up from $6.00) on shares of AgroFresh Solutions in a research note on Wednesday, July 12th. BidaskClub downgraded AgroFresh Solutions from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, ValuEngine upgraded AgroFresh Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, May 20th.

In related news, major shareholder Chemical Co /De/ Dow bought 33,214 shares of AgroFresh Solutions stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $6.94 per share, with a total value of $230,505.16. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders purchased 172,088 shares of company stock valued at $1,201,285. Company insiders own 19.40% of the company’s stock.

About AgroFresh Solutions

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.

Institutional Ownership by Quarter for AgroFresh Solutions (NASDAQ:AGFS)

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