Bank of America Corp DE Boosts Holdings in American Vanguard Co. (NYSE:AVD)

Bank of America Corp DE lifted its stake in American Vanguard Co. (NYSE:AVD) by 232.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 73,149 shares of the basic materials company’s stock after buying an additional 51,174 shares during the quarter. Bank of America Corp DE’s holdings in American Vanguard were worth $339,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of American Vanguard by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,909 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 2,221 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of American Vanguard by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,952 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 2,875 shares during the last quarter. Gabelli Funds LLC raised its position in shares of American Vanguard by 15.8% in the 4th quarter. Gabelli Funds LLC now owns 22,000 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 3,000 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of American Vanguard by 133.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,575 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 3,753 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of American Vanguard by 3.3% in the 4th quarter. Northern Trust Corp now owns 224,507 shares of the basic materials company’s stock worth $1,039,000 after purchasing an additional 7,251 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered American Vanguard from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Lake Street Capital decreased their target price on American Vanguard from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Monday.

American Vanguard Price Performance

Shares of NYSE:AVD opened at $4.52 on Friday. American Vanguard Co. has a fifty-two week low of $3.28 and a fifty-two week high of $9.84. The business has a 50-day simple moving average of $4.22 and a two-hundred day simple moving average of $4.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.79 and a current ratio of 1.89. The firm has a market cap of $127.59 million, a price-to-earnings ratio of -4.39 and a beta of 1.28.

American Vanguard (NYSE:AVD) last issued its earnings results on Friday, June 6th. The basic materials company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.21). American Vanguard had a negative return on equity of 3.45% and a negative net margin of 5.22%. The business had revenue of $127.00 million during the quarter, compared to analysts’ expectations of $127.00 million. During the same period last year, the firm posted $0.06 EPS.

American Vanguard Profile

American Vanguard Corporation, through its subsidiaries, develops, manufactures, and markets specialty chemicals for agricultural, commercial, and consumer uses in the United States and internationally. It manufactures and formulates chemicals, including insecticides, fungicides, herbicides, soil health, plant nutrition, molluscicides, growth regulators, soil fumigants, and biorationals in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection.