Sheets Smith Wealth Management Cuts Stake in AdvanSix Inc. (NYSE:ASIX)

Sheets Smith Wealth Management cut its stake in AdvanSix Inc. (NYSE:ASIX) by 5.8% during the 1st quarter, HoldingsChannel reports. The firm owned 15,937 shares of the company’s stock after selling 980 shares during the quarter. Sheets Smith Wealth Management’s holdings in AdvanSix were worth $456,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ASIX. SG Americas Securities LLC increased its position 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 worth $596,000 after acquiring an additional 388 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of AdvanSix by 2.9% during the fourth quarter. New York State Common Retirement Fund now owns 24,364 shares of the company’s stock worth $730,000 after acquiring an additional 698 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in shares of AdvanSix during the fourth quarter worth about $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AdvanSix by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,208 shares of the company’s stock worth $246,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of AdvanSix by 4.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 32,400 shares of the company’s stock worth $971,000 after acquiring an additional 1,346 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Stock Up 6.1 %

NYSE:ASIX traded up $1.53 during mid-day trading on Wednesday, reaching $26.58. The stock had a trading volume of 194,740 shares, compared to its average volume of 145,203. The company has a market capitalization of $712.88 million, a price-to-earnings ratio of 886.30 and a beta of 1.70. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $40.85. The stock’s 50 day simple moving average is $23.40 and its two-hundred day simple moving average is $25.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.71.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, May 3rd. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.02). The firm had revenue of $336.83 million during the quarter, compared to analyst estimates of $344.63 million. AdvanSix had a return on equity of 0.06% and a net margin of 0.15%. Equities analysts anticipate that AdvanSix Inc. will post 1.22 EPS for the current year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.16 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.41%. AdvanSix’s payout ratio is currently 2,134.04%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at AdvanSix

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 3,661 shares of AdvanSix stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $25.23, for a total value of $92,367.03. Following the completion of the transaction, the senior vice president now directly owns 35,335 shares in the company, valued at $891,502.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by insiders.

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.