EMC Capital Management lifted its position in shares of AdvanSix Inc. (NYSE:ASIX - Free Report) by 194.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,869 shares of the company's stock after purchasing an additional 18,409 shares during the quarter. EMC Capital Management owned about 0.10% of AdvanSix worth $847,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its stake in AdvanSix by 5.0% during the third quarter. Donald Smith & CO. Inc. now owns 176,996 shares of the company's stock valued at $5,377,000 after buying an additional 8,396 shares during the last quarter. Copeland Capital Management LLC purchased a new position in AdvanSix during the third quarter valued at $41,000. Everence Capital Management Inc. purchased a new position in AdvanSix during the third quarter valued at $237,000. Inspire Advisors LLC purchased a new position in AdvanSix during the third quarter valued at $247,000. Finally, Creative Planning raised its stake in AdvanSix by 17.7% during the third quarter. Creative Planning now owns 13,528 shares of the company's stock valued at $411,000 after buying an additional 2,030 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded AdvanSix from a "hold" rating to a "buy" rating in a research note on Monday, August 5th.
Get Our Latest Stock Analysis on ASIX
AdvanSix Stock Up 2.0 %
Shares of ASIX stock traded up $0.58 during mid-day trading on Friday, hitting $28.95. The company's stock had a trading volume of 239,824 shares, compared to its average volume of 142,273. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $32.04. The business has a 50-day moving average price of $29.30 and a 200 day moving average price of $26.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.39. The stock has a market cap of $773.34 million, a price-to-earnings ratio of 96.47 and a beta of 1.68.
AdvanSix (NYSE:ASIX - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.35. AdvanSix had a return on equity of 1.03% and a net margin of 0.57%. The firm had revenue of $453.48 million during the quarter, compared to analysts' expectations of $426.80 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. Research analysts predict that AdvanSix Inc. will post 1.67 EPS for the current fiscal year.
AdvanSix Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix's dividend payout ratio is currently 213.33%.
Insider Transactions at AdvanSix
In related news, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total transaction of $151,400.00. Following the completion of the sale, the chief executive officer now owns 522,795 shares in the company, valued at approximately $15,830,232.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,620 shares of company stock worth $170,603 over the last quarter. 5.60% of the stock is currently owned by insiders.
About AdvanSix
(
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.
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