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American Vanguard Subsidiary Buys Fungicide Product Line
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A fully-owned subsidiary of American Vanguard Corporation (AVD - Free Report) , AMVAC Chemical Corporation has acquired the FFIII fungicide product line from the Plant Nutrient Group of The Andersons, Inc, (ANDE - Free Report) . FFIII consists of three highly effective ingredients that work together to provide long lasting turf disease protection.
FFIII is a granular applied product for snow mold control and AMVAC is a market leader in this category. The combined performance and convenience of FFIII is likely to benefit AMVAC’s turf management customers.
American Vanguard has underperformed the Zacks categorized Chemical-Speciality industry in the past three months, partly owing to industry headwinds. The company’s shares have gained around 5.3% in this period, compared with 6.4% gain recorded by the industry.
In third-quarter 2016, American Vanguard’s earnings per share increased 11.1% year over year to 10 cents. However, it missed the Zacks Consensus Estimate of 12 cents. Revenues improved roughly from $72.5 million in third-quarter 2015 to $82.5 million in the reported quarter due to strong volumes in some segments.
In fourth-quarter 2016, the company expects to face a persistent challenging environment. It expects lower manufacturing output in the fourth quarter as it manages inventory levels. The demand for corn products for the planting season is expected to improve in 2017.
However, growth is likely to be moderate due to reduced distribution of channel inventories, supported by incremental expansion of the company globally, along with a gradual growth in the crop and non-crop businesses.
Ingevity has an expected long-term growth of 8% and carries a Zacks Rank #2 (Buy).
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American Vanguard Subsidiary Buys Fungicide Product Line
A fully-owned subsidiary of American Vanguard Corporation (AVD - Free Report) , AMVAC Chemical Corporation has acquired the FFIII fungicide product line from the Plant Nutrient Group of The Andersons, Inc, (ANDE - Free Report) . FFIII consists of three highly effective ingredients that work together to provide long lasting turf disease protection.
FFIII is a granular applied product for snow mold control and AMVAC is a market leader in this category. The combined performance and convenience of FFIII is likely to benefit AMVAC’s turf management customers.
American Vanguard has underperformed the Zacks categorized Chemical-Speciality industry in the past three months, partly owing to industry headwinds. The company’s shares have gained around 5.3% in this period, compared with 6.4% gain recorded by the industry.
In third-quarter 2016, American Vanguard’s earnings per share increased 11.1% year over year to 10 cents. However, it missed the Zacks Consensus Estimate of 12 cents. Revenues improved roughly from $72.5 million in third-quarter 2015 to $82.5 million in the reported quarter due to strong volumes in some segments.
In fourth-quarter 2016, the company expects to face a persistent challenging environment. It expects lower manufacturing output in the fourth quarter as it manages inventory levels. The demand for corn products for the planting season is expected to improve in 2017.
However, growth is likely to be moderate due to reduced distribution of channel inventories, supported by incremental expansion of the company globally, along with a gradual growth in the crop and non-crop businesses.
American Vanguard Corp. Price and Consensus
American Vanguard Corp. Price and Consensus | American Vanguard Corp. Quote
American Vanguard currently carries a Zacks Rank #3 (Hold).
Key Picks
Better-ranked companies in the chemical space include Versum Materials Inc. and Ingevity Corporation (NGVT - Free Report) .
Versum Materials has an expected long-term growth of 8% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ingevity has an expected long-term growth of 8% and carries a Zacks Rank #2 (Buy).
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>