Russell Investments Group Ltd. Decreases Position in AdvanSix Inc. (NYSE:ASIX)

Russell Investments Group Ltd. trimmed its position in AdvanSix Inc. (NYSE:ASIX - Free Report) by 16.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,794 shares of the company's stock after selling 41,231 shares during the quarter. Russell Investments Group Ltd. owned about 0.76% of AdvanSix worth $5,806,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its position in AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company's stock worth $14,269,000 after acquiring an additional 153,686 shares during the period. Oliver Luxxe Assets LLC purchased a new stake in AdvanSix in the 4th quarter valued at about $1,403,000. Barclays PLC raised its holdings in AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company's stock valued at $1,305,000 after buying an additional 32,706 shares during the period. JPMorgan Chase & Co. lifted its position in AdvanSix by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company's stock valued at $3,177,000 after buying an additional 13,316 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in AdvanSix by 162.8% during the third quarter. Jane Street Group LLC now owns 51,513 shares of the company's stock worth $1,565,000 after buying an additional 31,915 shares during the period. Hedge funds and other institutional investors own 86.39% of the company's stock.

Analyst Ratings Changes

ASIX has been the subject of a number of research analyst reports. StockNews.com cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Piper Sandler cut AdvanSix from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $35.00 to $26.00 in a research note on Monday, April 7th. Finally, UBS Group set a $35.00 target price on AdvanSix in a research note on Tuesday, March 18th.

AdvanSix Stock Up 0.1 %

Shares of NYSE ASIX traded up $0.03 during midday trading on Friday, hitting $19.97. The company's stock had a trading volume of 196,227 shares, compared to its average volume of 142,754. 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 has a market capitalization of $533.94 million, a price-to-earnings ratio of 12.40 and a beta of 1.64. The business's fifty day simple moving average is $24.27 and its two-hundred day simple moving average is $28.13. AdvanSix Inc. has a 1 year low of $18.44 and a 1 year high of $33.00.

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

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 3.21%. AdvanSix's payout ratio is 39.75%.

Insiders Place Their Bets

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 shares were sold at an average price of $22.24, for a total transaction of $88,960.00. Following the completion of the transaction, the senior vice president now owns 36,363 shares in the company, valued at $808,713.12. The trade was a 9.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

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.