Meeder Asset Management Inc. Acquires 12,825 Shares of AdvanSix Inc (NYSE:ASIX)

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Meeder Asset Management Inc. increased its holdings in shares of AdvanSix Inc (NYSE:ASIX) by 1,629.6% during the second quarter, Holdings reports. The firm owned 13,612 shares of the company’s stock after buying an additional 12,825 shares during the period. Meeder Asset Management Inc.’s holdings in AdvanSix were worth $333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. acquired a new stake in shares of AdvanSix during the first quarter worth $39,000. Quantamental Technologies LLC acquired a new stake in shares of AdvanSix during the first quarter worth $80,000. Flagship Harbor Advisors LLC lifted its stake in shares of AdvanSix by 12.6% during the second quarter. Flagship Harbor Advisors LLC now owns 4,667 shares of the company’s stock worth $114,000 after buying an additional 524 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of AdvanSix by 298.1% during the first quarter. BNP Paribas Arbitrage SA now owns 6,334 shares of the company’s stock worth $181,000 after buying an additional 4,743 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in shares of AdvanSix during the second quarter worth $162,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.

NYSE:ASIX opened at $21.46 on Friday. AdvanSix Inc has a 12 month low of $21.29 and a 12 month high of $35.90. The firm has a fifty day simple moving average of $24.19 and a 200-day simple moving average of $27.93. The company has a current ratio of 1.16, a quick ratio of 0.61 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $627.80 million, a P/E ratio of 10.27 and a beta of 1.90.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.14. AdvanSix had a net margin of 4.36% and a return on equity of 14.80%. The business had revenue of $345.22 million during the quarter, compared to the consensus estimate of $344.33 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. Equities analysts forecast that AdvanSix Inc will post 2.14 EPS for the current year.

In other AdvanSix news, Director Michael Marberry bought 4,350 shares of AdvanSix stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $21.34 per share, with a total value of $92,829.00. Following the completion of the acquisition, the director now directly owns 48,474 shares in the company, valued at approximately $1,034,435.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

ASIX has been the subject of several research reports. Zacks Investment Research downgraded shares of AdvanSix from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 26th. CL King initiated coverage on shares of AdvanSix in a research note on Thursday, August 15th. They set a “neutral” rating for the company. Finally, ValuEngine upgraded shares of AdvanSix from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.00.

AdvanSix Profile

AdvanSix Inc manufactures and sells polymer resins. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.

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Institutional Ownership by Quarter for AdvanSix (NYSE:ASIX)

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