Inspire Investing LLC Increases Stake in AdvanSix Inc. (NYSE:ASIX)

Inspire Investing LLC boosted its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 21.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,114 shares of the company’s stock after purchasing an additional 2,968 shares during the period. Inspire Investing LLC owned approximately 0.06% of AdvanSix worth $392,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ASIX. SummerHaven Investment Management LLC increased its holdings in shares of AdvanSix by 3.4% in the second quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock valued at $468,000 after purchasing an additional 672 shares during the period. Acadian Asset Management LLC purchased a new stake in AdvanSix in the second quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co increased its holdings in AdvanSix by 8.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock worth $694,000 after buying an additional 1,904 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in AdvanSix during the 2nd quarter worth approximately $51,000. Finally, Quadrature Capital Ltd lifted its stake in AdvanSix by 37.1% during the 4th quarter. Quadrature Capital Ltd now owns 8,989 shares of the company’s stock valued at $269,000 after acquiring an additional 2,434 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

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

AdvanSix Stock Down 2.7 %

AdvanSix stock opened at $28.34 on Friday. The business’s 50-day moving average price is $27.93 and its 200 day moving average price is $26.00. The company has a quick ratio of 0.74, a current ratio of 1.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $760.05 million, a price-to-earnings ratio of 944.67 and a beta of 1.69. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $31.47.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.35. AdvanSix had a net margin of 0.57% and a return on equity of 1.03%. The business had revenue of $453.48 million for the quarter, compared to analysts’ expectations of $426.80 million. During the same quarter last year, the company earned $1.18 EPS. As a group, sell-side analysts anticipate that AdvanSix Inc. will post 1.67 earnings per share for the current year.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.16 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.26%. AdvanSix’s payout ratio is 2,133.33%.

About AdvanSix

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.