Charles Schwab Investment Management Inc. Sells 59,409 Shares of AdvanSix Inc. (NYSE:ASIX)

Charles Schwab Investment Management Inc. lessened its stake in shares of AdvanSix Inc. (NYSE:ASIX - Free Report) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 378,156 shares of the company's stock after selling 59,409 shares during the period. Charles Schwab Investment Management Inc. owned 1.41% of AdvanSix worth $11,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASIX. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix during the 3rd quarter worth approximately $41,000. Point72 DIFC Ltd acquired a new stake in shares of AdvanSix in the 2nd quarter valued at $34,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix in the 2nd quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AdvanSix during the 2nd quarter worth $51,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of AdvanSix during the 2nd quarter worth $51,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AdvanSix news, insider Christopher Gramm sold 2,435 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the sale, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald P. Newman acquired 5,030 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now directly owns 5,030 shares of the company's stock, valued at $149,089.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 over the last quarter. 5.60% of the stock is owned by company insiders.

AdvanSix Price Performance

Shares of NYSE ASIX traded up $0.16 during mid-day trading on Monday, hitting $31.64. 131,745 shares of the stock traded hands, compared to its average volume of 140,729. AdvanSix Inc. has a twelve month low of $20.86 and a twelve month high of $33.00. The firm has a 50 day simple moving average of $30.51 and a two-hundred day simple moving average of $27.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The company has a market cap of $845.60 million, a PE ratio of 23.09 and a beta of 1.73.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, November 12th. AdvanSix's dividend payout ratio (DPR) is currently 45.39%.

Analysts Set New Price Targets

ASIX has been the topic of a number of recent analyst reports. Piper Sandler lifted their target price on AdvanSix from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. StockNews.com raised shares of AdvanSix from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th.

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.