Wedge Capital Management L L P NC lifted its holdings in shares of AgroFresh Solutions Inc (NASDAQ:AGFS) by 20.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,298 shares of the basic materials company’s stock after acquiring an additional 20,983 shares during the quarter. Wedge Capital Management L L P NC’s holdings in AgroFresh Solutions were worth $768,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of AGFS. Northern Trust Corp raised its stake in shares of AgroFresh Solutions by 8.3% during the first quarter. Northern Trust Corp now owns 293,045 shares of the basic materials company’s stock valued at $2,154,000 after purchasing an additional 22,470 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AgroFresh Solutions by 35.1% during the first quarter. Dimensional Fund Advisors LP now owns 682,817 shares of the basic materials company’s stock valued at $5,019,000 after purchasing an additional 177,377 shares during the period. Hartford Investment Management Co. purchased a new stake in shares of AgroFresh Solutions during the second quarter valued at approximately $297,000. Acadian Asset Management LLC purchased a new stake in shares of AgroFresh Solutions during the second quarter valued at approximately $850,000. Finally, Rhumbline Advisers increased its stake in shares of AgroFresh Solutions by 49.0% in the second quarter. Rhumbline Advisers now owns 30,499 shares of the basic materials company’s stock worth $214,000 after buying an additional 10,034 shares during the last quarter. 80.21% of the stock is owned by institutional investors.
Shares of NASDAQ:AGFS opened at $5.42 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.93 and a quick ratio of 1.53. AgroFresh Solutions Inc has a 12-month low of $4.96 and a 12-month high of $8.75.
AGFS has been the subject of a number of research analyst reports. BidaskClub lowered shares of AgroFresh Solutions from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Citigroup dropped their price target on shares of AgroFresh Solutions from $7.50 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 16th.
In related news, major shareholder Dowdupont Inc. purchased 38,106 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was acquired at an average price of $6.04 per share, for a total transaction of $230,160.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 2,092,529 shares of company stock valued at $12,979,507. Insiders own 15.20% of the company’s stock.
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AgroFresh Solutions Company Profile
AgroFresh Solutions, Inc provides data-driven specialty solutions worldwide. The company uses 1-Methylcyclopropene technology, an ethylene action inhibitor to maintain freshness and extend the shelf life of various fresh produce. Its solutions enable growers and packers of fresh produce to preserve and enhance the freshness, quality, and value of fresh produce, including apples, pears, kiwifruit, avocados, and bananas, as well as flowers.
Further Reading: Market Capitalization in the Stock Market
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