Texas Permanent School Fund Corp Grows Stake in AdvanSix Inc. (NYSE:ASIX)

Texas Permanent School Fund Corp grew its position in AdvanSix Inc. (NYSE:ASIX) by 19.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,990 shares of the company’s stock after buying an additional 4,556 shares during the quarter. Texas Permanent School Fund Corp owned 0.10% of AdvanSix worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ASIX. Russell Investments Group Ltd. boosted its position in AdvanSix by 227.0% during the 1st quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock valued at $4,309,000 after acquiring an additional 104,587 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of AdvanSix by 12.8% during the 1st quarter. First Eagle Investment Management LLC now owns 459,607 shares of the company’s stock worth $13,145,000 after purchasing an additional 52,200 shares during the last quarter. Wellington Management Group LLP boosted its position in AdvanSix by 39.8% during the fourth quarter. Wellington Management Group LLP now owns 183,499 shares of the company’s stock valued at $5,498,000 after purchasing an additional 52,199 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in AdvanSix by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 437,393 shares of the company’s stock valued at $13,104,000 after purchasing an additional 24,543 shares in the last quarter. Finally, Boston Partners purchased a new position in AdvanSix in the first quarter valued at about $702,000. Institutional investors own 86.39% of the company’s stock.

Insider Buying and Selling at AdvanSix

In related news, CEO Erin N. Kane sold 1,558 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $27.89, for a total value of $43,452.62. Following the transaction, the chief executive officer now directly owns 536,237 shares of the company’s stock, valued at approximately $14,955,649.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 2,258 shares of company stock worth $61,247. 5.60% of the stock is owned by corporate insiders.

AdvanSix Stock Performance

Shares of ASIX opened at $28.34 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.74 and a debt-to-equity ratio of 0.31. The firm has a market cap of $760.05 million, a PE ratio of 944.67 and a beta of 1.69. AdvanSix Inc. has a 12 month low of $20.86 and a 12 month high of $31.47. The stock has a fifty day moving average price of $27.93 and a 200-day moving average price of $26.00.

AdvanSix (NYSE:ASIX) last released its quarterly 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. The company had revenue of $453.48 million during the quarter, compared to analysts’ expectations of $426.80 million. AdvanSix had a return on equity of 1.03% and a net margin of 0.57%. During the same period last year, the business posted $1.18 earnings per share. Equities research analysts predict that AdvanSix Inc. will post 1.67 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, August 13th. AdvanSix’s dividend payout ratio is presently 2,133.33%.

Analysts Set New Price Targets

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

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.