BlueMountain Capital Management LLC increased its holdings in shares of AdvanSix Inc (NYSE:ASIX) by 27.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 31,075 shares of the company’s stock after acquiring an additional 6,647 shares during the period. BlueMountain Capital Management LLC owned about 0.10% of AdvanSix worth $1,138,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in AdvanSix during the 2nd quarter worth $236,000. AdvisorNet Financial Inc increased its holdings in AdvanSix by 161.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 7,600 shares of the company’s stock worth $278,000 after purchasing an additional 4,692 shares during the period. Bowling Portfolio Management LLC purchased a new position in AdvanSix during the 2nd quarter worth $1,678,000. Principal Financial Group Inc. increased its holdings in AdvanSix by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 240,535 shares of the company’s stock worth $8,366,000 after purchasing an additional 4,240 shares during the period. Finally, Koch Industries Inc. increased its holdings in AdvanSix by 13.9% during the 1st quarter. Koch Industries Inc. now owns 11,011 shares of the company’s stock worth $383,000 after purchasing an additional 1,346 shares during the period. 77.39% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael Marberry purchased 665 shares of the business’s stock in a transaction dated Monday, July 9th. The shares were acquired at an average cost of $37.82 per share, for a total transaction of $25,150.30. Following the acquisition, the director now owns 26,245 shares of the company’s stock, valued at approximately $992,585.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 3,536 shares of company stock worth $125,247 over the last quarter. Company insiders own 0.22% of the company’s stock.
Several research analysts have commented on ASIX shares. Zacks Investment Research upgraded AdvanSix from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. ValuEngine downgraded AdvanSix from a “buy” rating to a “hold” rating in a report on Friday, June 1st.
ASIX opened at $33.53 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 11.18 and a beta of 1.06. AdvanSix Inc has a 52 week low of $32.29 and a 52 week high of $46.51. The company has a current ratio of 1.31, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.
AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, August 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.04. AdvanSix had a return on equity of 22.35% and a net margin of 8.93%. The business had revenue of $400.46 million for the quarter, compared to the consensus estimate of $391.10 million. During the same period last year, the business posted $0.83 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. equities research analysts forecast that AdvanSix Inc will post 2.53 EPS for the current fiscal year.
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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