Goldman Sachs Group Inc. Sells 62,539 Shares of American Vanguard Corporation $AVD

Key Points

• Goldman Sachs Group Inc. has reduced its stake in American Vanguard Corporation by 17.8% during the first quarter, now holding approximately 1.02% of the company worth about $1.27 million.
• Multiple hedge funds have also adjusted their positions in American Vanguard, with institutional investors currently owning 79.00% of the stock.
• American Vanguard's stock price opened at $5.38 as of Friday, experiencing a decline of 7.2% and has a consensus rating of "Buy" with a target price of $12.00.

Goldman Sachs Group Inc. decreased its position in American Vanguard Corporation (NYSE:AVD - Free Report) by 17.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288,602 shares of the basic materials company's stock after selling 62,539 shares during the quarter. Goldman Sachs Group Inc. owned 1.02% of American Vanguard worth $1,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AVD. Northern Trust Corp increased its position in shares of American Vanguard by 3.3% in the fourth quarter. Northern Trust Corp now owns 224,507 shares of the basic materials company's stock valued at $1,039,000 after acquiring an additional 7,251 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of American Vanguard by 27.2% in the fourth quarter. Ameriprise Financial Inc. now owns 163,251 shares of the basic materials company's stock valued at $756,000 after acquiring an additional 34,943 shares during the last quarter. Bank of America Corp DE increased its position in shares of American Vanguard by 232.9% in the fourth quarter. Bank of America Corp DE now owns 73,149 shares of the basic materials company's stock valued at $339,000 after acquiring an additional 51,174 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of American Vanguard in the fourth quarter valued at about $2,666,000. Finally, Man Group plc acquired a new stake in shares of American Vanguard in the fourth quarter valued at about $165,000. Institutional investors and hedge funds own 79.00% of the company's stock.

American Vanguard Price Performance

NYSE AVD traded up $0.10 on Tuesday, hitting $5.59. 78,393 shares of the company's stock were exchanged, compared to its average volume of 229,075. The stock has a 50-day moving average of $4.80 and a 200-day moving average of $4.42. The company has a current ratio of 1.91, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82. American Vanguard Corporation has a 52 week low of $3.28 and a 52 week high of $6.68. The stock has a market cap of $158.92 million, a price-to-earnings ratio of -1.25 and a beta of 1.26.

American Vanguard (NYSE:AVD - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.08. American Vanguard had a negative return on equity of 26.21% and a negative net margin of 23.72%.The firm had revenue of $129.31 million during the quarter, compared to analysts' expectations of $130.00 million.

Analysts Set New Price Targets

A number of analysts recently issued reports on AVD shares. Lake Street Capital lowered their target price on American Vanguard from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. Wall Street Zen raised American Vanguard from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, American Vanguard currently has a consensus rating of "Buy" and an average target price of $12.00.

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.