AlphaQuest LLC Buys Shares of 3,283 AdvanSix Inc. (NYSE:ASIX)

AlphaQuest LLC bought a new stake in shares of AdvanSix Inc. (NYSE:ASIX) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,283 shares of the company’s stock, valued at approximately $94,000.

A number of other large investors have also recently bought and sold shares of ASIX. Inspire Investing LLC boosted its holdings in shares of AdvanSix by 2.5% during the fourth quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock worth $445,000 after purchasing an additional 387 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in shares of AdvanSix by 3.7% during the fourth quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock worth $449,000 after purchasing an additional 569 shares during the last quarter. Nilsine Partners LLC boosted its holdings in shares of AdvanSix by 3.1% during the fourth quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock worth $606,000 after purchasing an additional 650 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of AdvanSix by 1.4% during the fourth quarter. Rhumbline Advisers now owns 84,984 shares of the company’s stock worth $2,421,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Meritage Portfolio Management boosted its holdings in shares of AdvanSix by 12.5% during the fourth quarter. Meritage Portfolio Management now owns 11,730 shares of the company’s stock worth $334,000 after purchasing an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Trading Down 2.5 %

NYSE:ASIX opened at $23.50 on Wednesday. The business’s 50-day moving average is $28.82 and its two-hundred day moving average is $29.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. AdvanSix Inc. has a 12 month low of $20.86 and a 12 month high of $33.00. The firm has a market capitalization of $628.51 million, a PE ratio of 14.60 and a beta of 1.73.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The business had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. Research analysts predict that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, March 10th. AdvanSix’s payout ratio is 39.75%.

Analysts Set New Price Targets

ASIX has been the topic of several analyst reports. Piper Sandler decreased their price objective on AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday. UBS Group set a $35.00 target price on AdvanSix in a report on Tuesday. Finally, StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.15, for a total value of $140,750.00. Following the completion of the sale, the chief executive officer now directly owns 507,795 shares of the company’s stock, valued at $14,294,429.25. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.60% of the company’s stock.

About AdvanSix

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.