BlackRock Inc. raised its holdings in shares of AdvanSix Inc (NYSE:ASIX) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,271,632 shares of the company’s stock after purchasing an additional 219,565 shares during the period. BlackRock Inc. owned 0.14% of AdvanSix worth $156,468,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in ASIX. Soapstone Management L.P. acquired a new position in AdvanSix during the 1st quarter valued at about $7,022,000. Rubric Capital Management LP acquired a new position in AdvanSix during the 1st quarter valued at about $5,563,000. Cortina Asset Management LLC acquired a new position in AdvanSix during the 1st quarter valued at about $3,490,000. Dimensional Fund Advisors LP lifted its position in AdvanSix by 18.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 617,497 shares of the company’s stock valued at $21,477,000 after purchasing an additional 97,836 shares during the period. Finally, Wells Fargo & Company MN lifted its position in AdvanSix by 52.2% during the 2nd quarter. Wells Fargo & Company MN now owns 264,008 shares of the company’s stock valued at $9,671,000 after purchasing an additional 90,542 shares during the period. Institutional investors own 77.39% of the company’s stock.
A number of research analysts have issued reports on ASIX shares. Zacks Investment Research upgraded shares of AdvanSix from a “sell” rating to a “hold” rating in a research report on Thursday, August 30th. ValuEngine downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Finally, TheStreet upgraded shares of AdvanSix from a “c” rating to a “b-” rating in a research report on Tuesday, September 18th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $41.50.
Shares of NYSE:ASIX opened at $34.09 on Friday. The company has a market capitalization of $1.06 billion, a P/E ratio of 11.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 1.31. AdvanSix Inc has a fifty-two week low of $32.29 and a fifty-two week high of $46.51.
AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, August 3rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $400.46 million for the quarter, compared to the consensus estimate of $391.10 million. AdvanSix had a net margin of 8.93% and a return on equity of 22.35%. AdvanSix’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. analysts forecast that AdvanSix Inc will post 2.53 EPS for the current fiscal year.
In other news, Director Michael Marberry purchased 1,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were acquired at an average cost of $34.79 per share, for a total transaction of $49,993.23. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased a total of 3,536 shares of company stock worth $125,247 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.
AdvanSix Company Profile
AdvanSix Inc manufactures and sells polymer resins in the United States. 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, ammonium sulfate fertilizers, and acetone, 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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