Comerica Bank lowered its holdings in AdvanSix Inc (NYSE:ASIX) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,186 shares of the company’s stock after selling 1,712 shares during the period. Comerica Bank owned approximately 0.10% of AdvanSix worth $672,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ASIX. Dimensional Fund Advisors LP increased its position in shares of AdvanSix by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 943,169 shares of the company’s stock valued at $22,957,000 after purchasing an additional 35,803 shares during the last quarter. AltraVue Capital LLC increased its position in shares of AdvanSix by 214.1% during the 2nd quarter. AltraVue Capital LLC now owns 132,681 shares of the company’s stock valued at $3,241,000 after purchasing an additional 90,441 shares during the last quarter. First Trust Advisors LP increased its position in shares of AdvanSix by 6.0% during the 1st quarter. First Trust Advisors LP now owns 83,861 shares of the company’s stock valued at $2,396,000 after purchasing an additional 4,767 shares during the last quarter. AJO LP bought a new position in shares of AdvanSix during the 1st quarter valued at about $1,965,000. Finally, Gateway Investment Advisers LLC increased its position in shares of AdvanSix by 54.6% during the 2nd quarter. Gateway Investment Advisers LLC now owns 64,796 shares of the company’s stock valued at $1,583,000 after purchasing an additional 22,887 shares during the last quarter. 86.32% of the stock is currently owned by hedge funds and other institutional investors.
AdvanSix stock traded up $0.61 during mid-day trading on Friday, reaching $26.94. The stock had a trading volume of 6,177 shares, compared to its average volume of 131,203. The company has a market capitalization of $724.16 million, a price-to-earnings ratio of 12.98 and a beta of 1.95. The company has a 50-day moving average price of $23.45 and a two-hundred day moving average price of $27.04. AdvanSix Inc has a one year low of $21.25 and a one year high of $35.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.16 and a quick ratio of 0.61.
AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.14. The company had revenue of $345.22 million for the quarter, compared to analysts’ expectations of $344.33 million. AdvanSix had a net margin of 4.36% and a return on equity of 14.80%. AdvanSix’s revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. On average, equities research analysts anticipate that AdvanSix Inc will post 2.14 earnings per share for the current fiscal year.
Several brokerages have recently commented on ASIX. CL King began coverage on AdvanSix in a research report on Thursday, August 15th. They set a “neutral” rating on the stock. ValuEngine cut AdvanSix from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research cut shares of AdvanSix from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $34.00.
In other news, Director Michael Marberry purchased 4,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $21.34 per share, for a total transaction of $92,829.00. Following the purchase, the director now directly owns 48,474 shares in the company, valued at approximately $1,034,435.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.
AdvanSix Inc manufactures and sells polymer resins. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.
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