Nuveen Asset Management LLC bought a new position in shares of AdvanSix Inc (NYSE:ASIX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 182,011 shares of the company’s stock, valued at approximately $4,446,000. Nuveen Asset Management LLC owned 0.65% of AdvanSix at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in AdvanSix in the 2nd quarter valued at $296,000. Gateway Investment Advisers LLC boosted its stake in AdvanSix by 54.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 64,796 shares of the company’s stock valued at $1,583,000 after purchasing an additional 22,887 shares during the period. Tieton Capital Management LLC boosted its stake in AdvanSix by 7.3% in the 2nd quarter. Tieton Capital Management LLC now owns 62,675 shares of the company’s stock valued at $1,531,000 after purchasing an additional 4,255 shares during the period. LSV Asset Management boosted its stake in AdvanSix by 56.9% in the 2nd quarter. LSV Asset Management now owns 136,954 shares of the company’s stock valued at $3,345,000 after purchasing an additional 49,650 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in AdvanSix by 46.4% in the 2nd quarter. WINTON GROUP Ltd now owns 28,853 shares of the company’s stock valued at $705,000 after purchasing an additional 9,149 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.
Several research firms recently issued reports on ASIX. Zacks Investment Research downgraded AdvanSix from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 26th. ValuEngine downgraded AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, CL King began coverage on AdvanSix in a research note on Thursday, August 15th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. AdvanSix presently has an average rating of “Hold” and a consensus target price of $34.00.
AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.14. The business had revenue of $345.22 million during the quarter, compared to the consensus estimate of $344.33 million. AdvanSix had a return on equity of 14.80% and a net margin of 4.36%. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. Equities analysts anticipate that AdvanSix Inc will post 2.14 earnings per share for the current fiscal year.
In related news, Director Michael Marberry acquired 4,350 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $21.34 per share, with a total value of $92,829.00. Following the acquisition, the director now directly owns 48,474 shares of the company’s stock, valued at $1,034,435.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.
AdvanSix Company Profile
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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