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American Vanguard (AVD) Announces Share Buyback Program

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American Vanguard Corporation AVD announced that its board has approved a plan for repurchasing up to 300,000 shares of common stock within the requirements of Exchange Act Rule 10b-18 over the next six months.

This buyback program will help offset the expansion of outstanding shares emerging from equity awards made to the company’s workforce. The company believes that equity awards will help sync the interests of its employees with the stockholders. It will also enable employees to share in the company’s long-term success and help it retain personnel, especially in competitive employment markets.

The authorization to buy back shares further reflects on the strong degree of confidence that its board has in the strategic growth initiatives that are transforming American Vanguard, including new technologies in Green Solutions and precision application.

Shares of American Vanguard have gained 4.1% in the past year compared with a 22.4% rise of the industry.

Zacks Investment Research
Zacks Investment Research


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American Vanguard, in its last earnings call, stated that it is well placed in domestic and international markets. The company reaffirmed its earlier outlook for 2021. It sees low double-digit revenue growth and comparatively stronger growth in both net income and EBITDA factoring in favorable market conditions. American Vanguard also expects these factors along with well-managed operating expenses to further strengthen the balance sheet.

American Vanguard Corporation Price and Consensus

American Vanguard Corporation Price and Consensus
American Vanguard Corporation Price and Consensus

American Vanguard Corporation price-consensus-chart | American Vanguard Corporation Quote

Zacks Rank & Key Picks

American Vanguard currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.

Nucor has a projected earnings growth rate of around 494% for the current year. The company’s shares have soared 159.5% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 35.4% in the past year. It currently holds a Zacks Rank #2 (Buy).

Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 43% in the past year. It currently carries a Zacks Rank #2.


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