Alliancebernstein L.P. Sells 227,375 Shares of AdvanSix Inc. (NYSE:ASIX)

Alliancebernstein L.P. reduced its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,102,113 shares of the company's stock after selling 227,375 shares during the period. Alliancebernstein L.P. owned about 4.12% of AdvanSix worth $31,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in AdvanSix by 43.5% during the 4th quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock worth $19,199,000 after acquiring an additional 204,200 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of AdvanSix by 13.3% during the fourth quarter. Brandywine Global Investment Management LLC now owns 90,750 shares of the company's stock valued at $2,585,000 after purchasing an additional 10,660 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of AdvanSix by 441.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company's stock worth $6,248,000 after purchasing an additional 178,843 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of AdvanSix by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 110,289 shares of the company's stock valued at $3,142,000 after buying an additional 5,705 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of AdvanSix in the fourth quarter valued at approximately $237,000. 86.39% of the stock is owned by institutional investors.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the transaction, the senior vice president now directly owns 36,363 shares of the company's stock, valued at approximately $808,713.12. The trade was a 9.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the sale, the chief executive officer now directly owns 502,795 shares of the company's stock, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.60% of the company's stock.

AdvanSix Trading Up 1.7 %

Shares of AdvanSix stock traded up $0.34 during midday trading on Friday, reaching $20.47. The company had a trading volume of 186,150 shares, compared to its average volume of 141,407. The stock has a fifty day moving average price of $25.24 and a 200 day moving average price of $28.47. AdvanSix Inc. has a fifty-two week low of $18.44 and a fifty-two week high of $33.00. The firm has a market cap of $547.40 million, a PE ratio of 12.71 and a beta of 1.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49.

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

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a yield of 3.13%. AdvanSix's dividend payout ratio (DPR) is currently 39.75%.

Analysts Set New Price Targets

A number of research firms have weighed in on ASIX. UBS Group set a $35.00 target price on shares of AdvanSix in a report on Tuesday, March 18th. Piper Sandler cut shares of AdvanSix from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $35.00 to $26.00 in a research note on Monday. Finally, StockNews.com lowered AdvanSix from a "buy" rating to a "hold" rating in a research report on Monday, March 24th.

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.