Wealthfront Advisers LLC Takes $1.34 Million Position in AdvanSix Inc. (NYSE:ASIX)

Wealthfront Advisers LLC purchased a new stake in shares of AdvanSix Inc. (NYSE:ASIX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 46,942 shares of the company’s stock, valued at approximately $1,337,000.

A number of other large investors also recently modified their holdings of the business. AlphaQuest LLC acquired a new position in AdvanSix during the fourth quarter worth about $94,000. Quantbot Technologies LP grew its holdings in AdvanSix by 618.5% during the third quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock worth $132,000 after acquiring an additional 3,754 shares during the period. Public Employees Retirement System of Ohio grew its holdings in AdvanSix by 29.9% during the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after acquiring an additional 1,396 shares during the period. Quadrature Capital Ltd acquired a new position in AdvanSix during the third quarter worth about $204,000. Finally, Foundations Investment Advisors LLC purchased a new position in AdvanSix in the 4th quarter worth about $223,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Trading Up 2.1 %

Shares of ASIX opened at $24.06 on Friday. The business’s 50-day moving average price is $28.98 and its 200 day moving average price is $29.47. The stock has a market capitalization of $643.57 million, a P/E ratio of 14.95 and a beta of 1.73. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $33.00. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The firm had revenue of $329.06 million for the quarter, compared to analysts’ expectations of $377.15 million. Analysts expect that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a yield of 2.66%. AdvanSix’s payout ratio is presently 39.75%.

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.