Proficio Capital Partners LLC bought a new position in shares of AdvanSix Inc. (NYSE:ASIX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,276 shares of the company's stock, valued at approximately $663,000. Proficio Capital Partners LLC owned approximately 0.09% of AdvanSix at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in AdvanSix by 1.5% in the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock valued at $18,186,000 after acquiring an additional 8,903 shares during the last quarter. FMR LLC lifted its position in AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company's stock valued at $17,195,000 after purchasing an additional 261,964 shares during the period. Wellington Management Group LLP boosted its stake in shares of AdvanSix by 48.6% in the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company's stock valued at $14,269,000 after purchasing an additional 153,686 shares during the last quarter. Empowered Funds LLC grew its position in shares of AdvanSix by 5.1% during the 4th quarter. Empowered Funds LLC now owns 158,122 shares of the company's stock worth $4,505,000 after buying an additional 7,670 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of AdvanSix by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 129,551 shares of the company's stock worth $3,691,000 after buying an additional 3,699 shares during the period. 86.39% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. StockNews.com cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research note on Monday. Piper Sandler reduced their price target on AdvanSix from $39.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Finally, UBS Group set a $35.00 price objective on AdvanSix in a report on Tuesday, March 18th.
Get Our Latest Stock Report on AdvanSix
AdvanSix Trading Up 0.9 %
NYSE ASIX traded up $0.20 during trading on Wednesday, reaching $22.82. 118,610 shares of the stock traded hands, compared to its average volume of 131,055. AdvanSix Inc. has a fifty-two week low of $20.86 and a fifty-two week high of $33.00. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The firm has a market cap of $610.41 million, a price-to-earnings ratio of 14.18 and a beta of 1.73. The stock's 50-day moving average price is $28.33 and its 200 day moving average price is $29.21.
AdvanSix (NYSE:ASIX - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.40. The company had revenue of $329.06 million during the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. Analysts predict that AdvanSix Inc. will post 4 EPS for the current year.
AdvanSix Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 2.80%. AdvanSix's dividend payout ratio (DPR) is currently 39.75%.
Insider Transactions at AdvanSix
In other news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now owns 502,795 shares of the company's stock, valued at $15,179,381.05. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.
AdvanSix Company Profile
(
Free Report)
AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.
See Also
Before you consider AdvanSix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AdvanSix wasn't on the list.
While AdvanSix currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
