Allspring Global Investments Holdings LLC Purchases Shares of 2,233 AdvanSix Inc. (NYSE:ASIX)

Allspring Global Investments Holdings LLC purchased a new stake in AdvanSix Inc. (NYSE:ASIX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,233 shares of the company’s stock, valued at approximately $51,000.

Other hedge funds also recently added to or reduced their stakes in the company. Inspire Advisors LLC purchased a new position in shares of AdvanSix during the first quarter worth approximately $200,000. Aigen Investment Management LP purchased a new position in AdvanSix in the 4th quarter valued at $208,000. Price T Rowe Associates Inc. MD purchased a new position in AdvanSix in the 1st quarter valued at $215,000. Quadrature Capital Ltd grew its position in AdvanSix by 37.1% in the 4th quarter. Quadrature Capital Ltd now owns 8,989 shares of the company’s stock valued at $269,000 after buying an additional 2,434 shares during the last quarter. Finally, EMC Capital Management purchased a new position in AdvanSix in the 1st quarter valued at $271,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

Insider Buying and Selling at AdvanSix

In other news, CEO Erin N. Kane sold 1,558 shares of AdvanSix stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $27.89, for a total transaction of $43,452.62. Following the completion of the transaction, the chief executive officer now owns 536,237 shares of the company’s stock, valued at approximately $14,955,649.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 2,258 shares of company stock valued at $61,247. 5.60% of the stock is owned by company insiders.

AdvanSix Price Performance

AdvanSix stock opened at $27.57 on Tuesday. AdvanSix Inc. has a one year low of $20.86 and a one year high of $31.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.39. The business has a fifty day moving average of $26.88 and a two-hundred day moving average of $25.96. The company has a market cap of $736.39 million, a P/E ratio of 919.31 and a beta of 1.69.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, August 2nd. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.35. AdvanSix had a return on equity of 1.03% and a net margin of 0.57%. The company had revenue of $453.48 million during the quarter, compared to the consensus estimate of $426.80 million. During the same quarter last year, the company earned $1.18 earnings per share. As a group, analysts predict that AdvanSix Inc. will post 1.67 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, August 13th. AdvanSix’s dividend payout ratio (DPR) is currently 2,134.04%.

AdvanSix Company Profile

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.