SummerHaven Investment Management LLC Buys 672 Shares of AdvanSix Inc. (NYSE:ASIX)

SummerHaven Investment Management LLC increased its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,404 shares of the company’s stock after acquiring an additional 672 shares during the quarter. SummerHaven Investment Management LLC’s holdings in AdvanSix were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ASIX. Victory Capital Management Inc. increased its holdings in AdvanSix by 18.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,579,152 shares of the company’s stock valued at $77,271,000 after buying an additional 401,322 shares during the period. First Eagle Investment Management LLC increased its holdings in AdvanSix by 12.8% in the 1st quarter. First Eagle Investment Management LLC now owns 459,607 shares of the company’s stock valued at $13,145,000 after buying an additional 52,200 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AdvanSix by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 437,393 shares of the company’s stock valued at $13,104,000 after buying an additional 24,543 shares during the period. Wellington Management Group LLP increased its holdings in AdvanSix by 39.8% in the 4th quarter. Wellington Management Group LLP now owns 183,499 shares of the company’s stock valued at $5,498,000 after buying an additional 52,199 shares during the period. Finally, Donald Smith & CO. Inc. increased its holdings in AdvanSix by 15.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 161,832 shares of the company’s stock valued at $4,628,000 after buying an additional 21,932 shares during the period. Institutional investors own 86.39% of the company’s stock.

AdvanSix Price Performance

Shares of NYSE:ASIX traded up $0.79 on Friday, hitting $30.05. The stock had a trading volume of 42,050 shares, compared to its average volume of 146,654. AdvanSix Inc. has a twelve month low of $20.86 and a twelve month high of $34.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.38. The firm’s 50 day moving average price is $25.43 and its 200-day moving average price is $25.79. The company has a market capitalization of $805.91 million, a price-to-earnings ratio of 975.00 and a beta of 1.70.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.35. The business had revenue of $453.48 million for the quarter, compared to the consensus estimate of $426.80 million. AdvanSix had a net margin of 0.15% and a return on equity of 0.06%. During the same quarter in the prior year, the company earned $1.18 EPS. On average, equities research analysts predict that AdvanSix Inc. will post 1.22 earnings per share for the current year.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.64 annualized dividend and a yield of 2.13%. AdvanSix’s dividend payout ratio (DPR) is 2,133.33%.

Insider Buying and Selling

In related news, CEO Erin N. Kane sold 1,558 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $27.89, for a total transaction of $43,452.62. Following the transaction, the chief executive officer now owns 536,237 shares in the company, valued at approximately $14,955,649.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 2,258 shares of company stock worth $61,247 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

AdvanSix 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.