AdvanSix Inc. (NYSE:ASIX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in AdvanSix Inc. (NYSE:ASIX - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,599 shares of the company's stock after selling 29,543 shares during the period. Bank of New York Mellon Corp owned approximately 1.18% of AdvanSix worth $8,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Inspire Investing LLC lifted its stake in shares of 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 during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of 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 during the last quarter. Nilsine Partners LLC lifted its stake in shares of AdvanSix by 3.1% in the 4th quarter. Nilsine Partners LLC now owns 21,288 shares of the company's stock valued at $606,000 after purchasing an additional 650 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of AdvanSix by 1.4% in the 4th quarter. Rhumbline Advisers now owns 84,984 shares of the company's stock valued at $2,421,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Meritage Portfolio Management lifted its stake in shares of AdvanSix by 12.5% in the 4th quarter. Meritage Portfolio Management now owns 11,730 shares of the company's stock valued at $334,000 after purchasing an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised AdvanSix from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th. Piper Sandler cut their price objective on AdvanSix from $39.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, UBS Group set a $35.00 price objective on AdvanSix in a report on Tuesday.

Insiders Place Their Bets

In other news, CEO Erin N. Kane sold 5,000 shares of the company'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 transaction, the chief executive officer now directly owns 502,795 shares of the company's stock, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by company insiders.

AdvanSix Trading Down 2.5 %

Shares of ASIX stock traded down $0.60 on Tuesday, hitting $23.50. The stock had a trading volume of 228,708 shares, compared to its average volume of 141,961. The company's 50 day moving average price is $28.90 and its 200-day moving average price is $29.43. 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 Inc. has a 1 year low of $20.86 and a 1 year high of $33.00. The firm has a market capitalization of $628.51 million, a P/E ratio of 14.60 and a beta of 1.73.

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

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 2.72%. AdvanSix's dividend payout ratio (DPR) is 39.75%.

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.