News

Jun 11, 2023

Ziegler Capital Management LLC Increases Stock Holdings in AdvanSix Inc. (NYSE:ASIX)

Ziegler Capital Management LLC raised its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 18.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange

Ziegler Capital Management LLC raised its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 18.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,089 shares of the company's stock after purchasing an additional 4,595 shares during the quarter. Ziegler Capital Management LLC owned 0.11% of AdvanSix worth $1,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its holdings in AdvanSix by 3.5% during the fourth quarter. Arizona State Retirement System now owns 7,902 shares of the company's stock worth $300,000 after purchasing an additional 265 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in AdvanSix by 2.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 10,500 shares of the company's stock worth $399,000 after purchasing an additional 274 shares during the last quarter. Credit Suisse AG raised its holdings in AdvanSix by 1.2% during the third quarter. Credit Suisse AG now owns 23,362 shares of the company's stock worth $750,000 after purchasing an additional 284 shares during the last quarter. Meritage Portfolio Management raised its holdings in AdvanSix by 3.6% during the fourth quarter. Meritage Portfolio Management now owns 8,878 shares of the company's stock worth $338,000 after purchasing an additional 312 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in AdvanSix by 0.5% during the fourth quarter. Legal & General Group Plc now owns 66,874 shares of the company's stock worth $2,543,000 after purchasing an additional 312 shares during the last quarter. 84.20% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix stock opened at $39.28 on Monday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 7.89 and a beta of 1.83. The stock has a fifty day moving average price of $36.00 and a 200 day moving average price of $38.03. AdvanSix Inc. has a 52 week low of $30.69 and a 52 week high of $44.57. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.17.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its earnings results on Friday, May 5th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.29. The company had revenue of $400.54 million during the quarter, compared to the consensus estimate of $411.23 million. AdvanSix had a return on equity of 19.88% and a net margin of 7.70%. Equities research analysts anticipate that AdvanSix Inc. will post 3.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Monday, May 15th. AdvanSix's dividend payout ratio is currently 11.65%.

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price objective on AdvanSix from $54.00 to $50.00 in a report on Tuesday, May 16th. StockNews.com initiated coverage on AdvanSix in a report on Thursday, May 18th. They issued a "buy" rating for the company.

In other AdvanSix news, insider Christopher Gramm sold 1,000 shares of the company's stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $35.09, for a total transaction of $35,090.00. Following the sale, the insider now owns 35,744 shares in the company, valued at $1,254,256.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AdvanSix news, SVP Achilles B. Kintiroglou sold 3,335 shares of the company's stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $35.27, for a total transaction of $117,625.45. Following the sale, the senior vice president now owns 36,269 shares in the company, valued at $1,279,207.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Gramm sold 1,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $35.09, for a total value of $35,090.00. Following the sale, the insider now owns 35,744 shares in the company, valued at $1,254,256.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,670 shares of company stock valued at $341,460. Insiders own 5.20% of the company's stock.

AdvanSix Inc manufactures and sells 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.

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