Meritage Portfolio Management Grows Stake in AdvanSix Inc. (NYSE:ASIX)

Meritage Portfolio Management boosted its position in AdvanSix Inc. (NYSE:ASIX) by 12.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,730 shares of the company’s stock after purchasing an additional 1,301 shares during the period. Meritage Portfolio Management’s holdings in AdvanSix were worth $334,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Inspire Investing LLC increased its stake in AdvanSix by 2.5% in the 4th quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock valued at $445,000 after purchasing an additional 387 shares in the last quarter. Sheets Smith Wealth Management increased its stake in AdvanSix by 3.7% in the 4th quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock valued at $449,000 after purchasing an additional 569 shares in the last quarter. Nilsine Partners LLC grew its holdings in AdvanSix by 3.1% during the 4th quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock valued at $606,000 after buying an additional 650 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in AdvanSix during the 3rd quarter valued at $41,000. Finally, Public Employees Retirement System of Ohio grew its holdings in AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after buying an additional 1,396 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Price Performance

ASIX stock opened at $30.22 on Friday. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00. The stock’s fifty day simple moving average is $30.11 and its 200-day simple moving average is $29.53. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $807.73 million, a price-to-earnings ratio of 21.43 and a beta of 1.76.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Piper Sandler increased their target price on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

Insider Transactions at AdvanSix

In other AdvanSix news, Director Donald P. Newman acquired 5,030 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $29.64 per share, for a total transaction of $149,089.20. Following the completion of the acquisition, the director now directly owns 5,030 shares of the company’s stock, valued at $149,089.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Gramm sold 1,951 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,951 shares of company stock worth $354,132 over the last quarter. 5.60% of the stock is currently owned by insiders.

AdvanSix 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.