American Century Companies Inc. Buys 77,587 Shares of Hudson Technologies, Inc. $HDSN

Key Points

• American Century Companies Inc. increased its stake in Hudson Technologies, Inc. by 9.8%, acquiring an additional 77,587 shares to own 868,059 shares, valued at approximately $5.36 million.
• Several hedge funds raised their holdings in Hudson Technologies during the first quarter, with notable increases by Boston Partners (18.6%) and Invesco Ltd. (25.4%).
• Analysts have upgraded Hudson Technologies' stock ratings, with targets now reaching as high as $10.50, reflecting a positive outlook for the company following its recent earnings performance.

American Century Companies Inc. raised its holdings in shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 868,059 shares of the industrial products company's stock after purchasing an additional 77,587 shares during the period. American Century Companies Inc. owned 1.97% of Hudson Technologies worth $5,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HDSN. D. E. Shaw & Co. Inc. increased its stake in shares of Hudson Technologies by 282.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company's stock valued at $7,508,000 after purchasing an additional 993,833 shares in the last quarter. 683 Capital Management LLC lifted its stake in shares of Hudson Technologies by 89.4% in the fourth quarter. 683 Capital Management LLC now owns 635,900 shares of the industrial products company's stock worth $3,548,000 after buying an additional 300,110 shares in the last quarter. Two Sigma Investments LP raised its holdings in Hudson Technologies by 332.9% in the 4th quarter. Two Sigma Investments LP now owns 361,978 shares of the industrial products company's stock worth $2,020,000 after acquiring an additional 278,352 shares during the last quarter. Bastion Asset Management Inc. bought a new position in Hudson Technologies in the 4th quarter valued at approximately $1,487,000. Finally, Bridgeway Capital Management LLC bought a new position in Hudson Technologies in the 4th quarter valued at approximately $1,091,000. Institutional investors own 71.34% of the company's stock.

Hudson Technologies Stock Down 1.2%

HDSN traded down $0.12 during trading on Friday, hitting $10.16. The company's stock had a trading volume of 314,419 shares, compared to its average volume of 429,758. The business's 50 day simple moving average is $8.89 and its 200-day simple moving average is $7.29. The firm has a market cap of $443.69 million, a PE ratio of 25.40 and a beta of 0.97. Hudson Technologies, Inc. has a one year low of $5.11 and a one year high of $10.34.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.08. The firm had revenue of $72.85 million for the quarter, compared to analysts' expectations of $71.67 million. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%. Equities research analysts expect that Hudson Technologies, Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HDSN. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $7.50 to $9.00 in a research note on Monday, June 16th. Wall Street Zen lowered shares of Hudson Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Craig Hallum raised Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price target on the stock in a report on Thursday, May 8th. Finally, Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and increased their price target for the company from $6.75 to $10.50 in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Hudson Technologies has an average rating of "Moderate Buy" and an average price target of $8.63.

Hudson Technologies Profile

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.