Summit Global Investments Makes New $279,000 Investment in AdvanSix Inc. (NYSE:ASIX)

Summit Global Investments acquired a new position in shares of AdvanSix Inc. (NYSE:ASIX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,311 shares of the company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ASIX. SG Americas Securities LLC raised its stake in shares of AdvanSix by 2.0% during the fourth quarter. SG Americas Securities LLC now owns 19,900 shares of the company’s stock valued at $596,000 after acquiring an additional 388 shares during the last quarter. Strs Ohio raised its position in AdvanSix by 2.6% during the 3rd quarter. Strs Ohio now owns 20,100 shares of the company’s stock worth $624,000 after purchasing an additional 500 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in AdvanSix by 2.9% during the 4th quarter. New York State Common Retirement Fund now owns 24,364 shares of the company’s stock worth $730,000 after buying an additional 698 shares during the period. Copeland Capital Management LLC acquired a new position in AdvanSix during the 4th quarter worth about $27,000. Finally, Swiss National Bank grew its position in shares of AdvanSix by 1.8% in the 3rd quarter. Swiss National Bank now owns 60,600 shares of the company’s stock valued at $1,883,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AdvanSix Stock Performance

NYSE ASIX opened at $23.21 on Tuesday. 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 company has a market capitalization of $622.26 million, a PE ratio of 773.92 and a beta of 1.74. AdvanSix Inc. has a 52-week low of $21.55 and a 52-week high of $40.85. The company has a 50-day simple moving average of $26.86 and a 200 day simple moving average of $27.03.

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

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.76%. AdvanSix’s payout ratio is currently 2,134.04%.

Insider Buying and Selling

In other news, CEO Erin N. Kane sold 1,385 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.96, for a total transaction of $38,724.60. Following the completion of the transaction, the chief executive officer now owns 556,370 shares of the company’s stock, valued at $15,556,105.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $28.30, for a total transaction of $141,500.00. Following the transaction, the chief executive officer now directly owns 557,755 shares in the company, valued at approximately $15,784,466.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Erin N. Kane sold 1,385 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 556,370 shares of the company’s stock, valued at approximately $15,556,105.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,048 shares of company stock worth $578,848. Corporate insiders own 5.20% of the company’s stock.

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.