Meros Investment Management LP Buys 27,123 Shares of AdvanSix Inc. (NYSE:ASIX)

Meros Investment Management LP increased its stake in AdvanSix Inc. (NYSE:ASIX) by 27.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,295 shares of the company’s stock after purchasing an additional 27,123 shares during the quarter. Meros Investment Management LP owned about 0.47% of AdvanSix worth $2,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC lifted its stake in AdvanSix by 33.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after purchasing an additional 151,470 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of AdvanSix by 227.0% in the first quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock worth $4,309,000 after buying an additional 104,587 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in shares of AdvanSix by 45.2% in the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock worth $5,955,000 after buying an additional 80,915 shares in the last quarter. Millennium Management LLC boosted its stake in AdvanSix by 83.8% during the second quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock valued at $3,192,000 after buying an additional 63,489 shares during the period. Finally, Wellington Management Group LLP grew 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 worth $5,498,000 after buying an additional 52,199 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AdvanSix news, CEO Erin N. Kane sold 1,558 shares of AdvanSix stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $27.89, for a total transaction of $43,452.62. Following the transaction, the chief executive officer now directly owns 536,237 shares of the company’s stock, valued at $14,955,649.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,258 shares of company stock valued at $61,247 over the last quarter. 5.60% of the stock is owned by corporate insiders.

AdvanSix Stock Performance

AdvanSix stock opened at $30.37 on Friday. AdvanSix Inc. has a fifty-two week low of $20.86 and a fifty-two week high of $31.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.39. The stock has a market cap of $811.18 million, a P/E ratio of 1,012.67 and a beta of 1.69. The firm’s fifty day moving average price is $28.24 and its 200-day moving average price is $26.07.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.35. AdvanSix had a return on equity of 1.03% and a net margin of 0.57%. The business had revenue of $453.48 million for the quarter, compared to the consensus estimate of $426.80 million. During the same quarter last year, the business posted $1.18 earnings per share. On average, equities research analysts expect that AdvanSix Inc. will post 1.67 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.11%. The ex-dividend date was Tuesday, August 13th. AdvanSix’s dividend payout ratio is currently 2,134.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a 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.