Russell Investments Group Ltd. boosted its position in shares of AdvanSix Inc (NYSE:ASIX) by 29.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,228 shares of the company’s stock after purchasing an additional 14,195 shares during the period. Russell Investments Group Ltd. owned about 0.22% of AdvanSix worth $1,521,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. LSV Asset Management raised its stake in shares of AdvanSix by 56.9% in the second quarter. LSV Asset Management now owns 136,954 shares of the company’s stock worth $3,345,000 after acquiring an additional 49,650 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of AdvanSix in the second quarter worth about $80,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of AdvanSix in the second quarter worth about $265,000. GSA Capital Partners LLP bought a new position in shares of AdvanSix in the second quarter worth about $328,000. Finally, Parallel Advisors LLC raised its stake in shares of AdvanSix by 194.9% in the second quarter. Parallel Advisors LLC now owns 1,091 shares of the company’s stock worth $27,000 after acquiring an additional 721 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on ASIX. CL King began coverage on shares of AdvanSix in a research note on Thursday, August 15th. They set a “neutral” rating for the company. Zacks Investment Research downgraded shares of AdvanSix from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Finally, ValuEngine downgraded shares of AdvanSix from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.00.
NYSE ASIX traded down $0.17 during trading on Friday, reaching $25.93. 358 shares of the stock traded hands, compared to its average volume of 122,672. The firm has a market cap of $718.03 million, a price-to-earnings ratio of 12.41 and a beta of 1.95. The stock’s 50-day moving average price is $23.55 and its 200 day moving average price is $26.81. The company has a quick ratio of 0.61, a current ratio of 1.16 and a debt-to-equity ratio of 0.82. AdvanSix Inc has a fifty-two week low of $21.25 and a fifty-two week high of $35.68.
AdvanSix (NYSE:ASIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.14. The firm had revenue of $345.22 million during 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%. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. Analysts anticipate that AdvanSix Inc will post 2.14 EPS for the current fiscal year.
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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