Charles Schwab Investment Management Inc. lowered its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,813 shares of the company's stock after selling 59,343 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of AdvanSix worth $9,083,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of AdvanSix by 1.5% in the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock valued at $18,186,000 after purchasing an additional 8,903 shares during the period. FMR LLC grew its position in AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company's stock worth $17,195,000 after purchasing an additional 261,964 shares during the last quarter. Wellington Management Group LLP raised its stake in AdvanSix by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company's stock valued at $14,269,000 after acquiring an additional 153,686 shares during the last quarter. Empowered Funds LLC raised its stake in shares of AdvanSix by 5.1% during the 4th quarter. Empowered Funds LLC now owns 158,122 shares of the company's stock worth $4,505,000 after buying an additional 7,670 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in AdvanSix by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 129,551 shares of the company's stock valued at $3,691,000 after acquiring an additional 3,699 shares during the period. Hedge funds and other institutional investors own 86.39% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on ASIX shares. UBS Group set a $35.00 price objective on AdvanSix in a research note on Tuesday, March 18th. Piper Sandler cut their price target on AdvanSix from $39.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Finally, StockNews.com cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research note on Monday.
View Our Latest Analysis on AdvanSix
Insider Transactions at AdvanSix
In other news, CEO Erin N. Kane sold 5,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total value of $150,950.00. Following the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.60% of the company's stock.
AdvanSix Price Performance
NYSE:ASIX traded up $0.20 during trading hours on Wednesday, reaching $22.82. 118,610 shares of the company traded hands, compared to its average volume of 131,055. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. The firm's 50-day moving average is $28.33 and its 200-day moving average is $29.21. The stock has a market cap of $610.41 million, a P/E ratio of 14.18 and a beta of 1.73. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $33.00.
AdvanSix (NYSE:ASIX - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.40. The firm had revenue of $329.06 million during the quarter, compared to analysts' expectations of $377.15 million. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. Equities research analysts expect that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.
AdvanSix Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, March 10th. AdvanSix's dividend payout ratio is currently 39.75%.
About AdvanSix
(
Free Report)
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.
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