Fmr LLC Acquires 261,964 Shares of AdvanSix Inc. (NYSE:ASIX)

FMR LLC grew its stake in shares of AdvanSix Inc. (NYSE:ASIX - Free Report) by 86.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 565,982 shares of the company's stock after buying an additional 261,964 shares during the period. FMR LLC owned approximately 2.12% of AdvanSix worth $17,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its stake in AdvanSix by 3.4% in the second quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company's stock valued at $468,000 after purchasing an additional 672 shares in the last quarter. Meritage Portfolio Management raised its stake in AdvanSix by 9.1% during the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company's stock worth $317,000 after buying an additional 871 shares during the period. Copeland Capital Management LLC acquired a new stake in AdvanSix during the 3rd quarter worth $41,000. Point72 DIFC Ltd bought a new position in AdvanSix during the second quarter worth about $34,000. Finally, Acadian Asset Management LLC acquired a new position in AdvanSix in the second quarter valued at about $36,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total value of $151,400.00. Following the transaction, the chief executive officer now directly owns 522,795 shares in the company, valued at approximately $15,830,232.60. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Gramm sold 1,951 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company's stock, valued at $1,390,816. This represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,369 shares of company stock worth $474,058. Corporate insiders own 5.60% of the company's stock.

AdvanSix Stock Down 0.4 %

Shares of ASIX traded down $0.13 during mid-day trading on Wednesday, hitting $31.41. 152,959 shares of the company's stock were exchanged, compared to its average volume of 140,572. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $33.00. The company has a market cap of $839.59 million, a PE ratio of 22.15 and a beta of 1.73. The company has a 50-day simple moving average of $30.56 and a 200 day simple moving average of $27.72.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Tuesday, November 12th. AdvanSix's payout ratio is 45.39%.

Analyst Ratings Changes

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

About AdvanSix

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.