Bank of Montreal Can Makes New Investment in Hudson Technologies, Inc. (NASDAQ:HDSN)

Bank of Montreal Can purchased a new stake in Hudson Technologies, Inc. (NASDAQ:HDSN) during the 2nd quarter, Holdings Channel reports. The firm purchased 42,925 shares of the industrial products company’s stock, valued at approximately $381,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Hudson Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,280,462 shares of the industrial products company’s stock valued at $25,108,000 after buying an additional 37,158 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hudson Technologies by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock valued at $17,747,000 after acquiring an additional 364,117 shares in the last quarter. New South Capital Management Inc. acquired a new stake in shares of Hudson Technologies during the second quarter valued at $11,564,000. Sixth Street Partners Management Company L.P. increased its position in Hudson Technologies by 30.0% during the 2nd quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company’s stock worth $11,427,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in Hudson Technologies by 39.3% in the 2nd quarter. Foundry Partners LLC now owns 941,923 shares of the industrial products company’s stock valued at $8,280,000 after purchasing an additional 265,825 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HDSN shares. Craig Hallum decreased their price target on shares of Hudson Technologies from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. B. Riley reduced their price objective on shares of Hudson Technologies from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Hudson Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $10.60.

Hudson Technologies Stock Performance

Shares of HDSN stock opened at $7.69 on Friday. The firm has a market capitalization of $349.98 million, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20. Hudson Technologies, Inc. has a one year low of $6.94 and a one year high of $15.24. The company has a 50 day moving average price of $7.99 and a 200 day moving average price of $8.98.

Hudson Technologies (NASDAQ:HDSN) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). The company had revenue of $75.28 million for the quarter, compared to analysts’ expectations of $78.63 million. Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, equities analysts forecast that Hudson Technologies, Inc. will post 0.58 EPS for the current fiscal year.

Hudson Technologies Company 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.