Sheets Smith Wealth Management Buys 4,089 Shares of AdvanSix Inc. (NYSE:ASIX)

Sheets Smith Wealth Management boosted its position in shares of AdvanSix Inc. (NYSE:ASIX) by 31.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,917 shares of the company’s stock after acquiring an additional 4,089 shares during the quarter. Sheets Smith Wealth Management’s holdings in AdvanSix were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of AdvanSix by 26.7% during the third quarter. Victory Capital Management Inc. now owns 2,177,830 shares of the company’s stock worth $67,687,000 after purchasing an additional 458,622 shares in the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of AdvanSix in the fourth quarter worth $4,191,000. Wellington Management Group LLP bought a new position in shares of AdvanSix during the 3rd quarter valued at about $4,081,000. First Eagle Investment Management LLC lifted its position in shares of AdvanSix by 57.0% in the third quarter. First Eagle Investment Management LLC now owns 276,007 shares of the company’s stock worth $8,578,000 after buying an additional 100,236 shares in the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new position in AdvanSix during the 3rd quarter valued at approximately $2,370,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus restated a “buy” rating and issued a $40.00 target price on shares of AdvanSix in a report on Tuesday, April 9th.

AdvanSix Trading Up 5.7 %

NYSE:ASIX traded up $1.26 during mid-day trading on Monday, hitting $23.39. 158,242 shares of the stock traded hands, compared to its average volume of 150,519. The stock has a market capitalization of $627.09 million, a price-to-earnings ratio of 788.60 and a beta of 1.74. The firm’s 50 day moving average is $26.94 and its two-hundred day moving average is $27.06. AdvanSix Inc. has a 52 week low of $21.55 and a 52 week high of $40.85. The company has a quick ratio of 0.71, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, February 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AdvanSix had a return on equity of 0.06% and a net margin of 0.15%. The company had revenue of $382.21 million during the quarter, compared to analysts’ expectations of $335.80 million. On average, equities research analysts predict that AdvanSix Inc. will post 1.04 earnings per share for the current year.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, May 13th. AdvanSix’s dividend payout ratio is presently 2,134.04%.

Insider Activity at AdvanSix

In related news, CEO Erin N. Kane sold 1,385 shares of AdvanSix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.96, for a total value of $38,724.60. Following the completion of the sale, the chief executive officer now directly owns 556,370 shares in the company, valued at $15,556,105.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $27.69, for a total value of $110,760.00. Following the completion of the transaction, the senior vice president now directly owns 38,996 shares of the company’s stock, valued at approximately $1,079,799.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Erin N. Kane sold 1,385 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $27.96, for a total value of $38,724.60. Following the sale, the chief executive officer now owns 556,370 shares of the company’s stock, valued at $15,556,105.20. The disclosure for this sale can be found here. Insiders sold 21,048 shares of company stock worth $578,848 in the last 90 days. 5.20% of the stock is owned by corporate insiders.

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.