AdvanSix Inc. (NYSE:ASIX) Stake Trimmed by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in AdvanSix Inc. (NYSE:ASIXGet Rating) by 10.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the company’s stock after selling 744 shares during the quarter. ProShare Advisors LLC’s holdings in AdvanSix were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Hightower 6M Holding LLC purchased a new position in AdvanSix in the 1st quarter worth about $258,000. B. Metzler seel. Sohn & Co. AG purchased a new position in AdvanSix in the 1st quarter worth about $548,000. Swiss National Bank increased its stake in AdvanSix by 7.8% in the 1st quarter. Swiss National Bank now owns 66,600 shares of the company’s stock worth $3,403,000 after purchasing an additional 4,800 shares in the last quarter. Teacher Retirement System of Texas increased its stake in AdvanSix by 6.3% in the 1st quarter. Teacher Retirement System of Texas now owns 5,790 shares of the company’s stock worth $296,000 after purchasing an additional 344 shares in the last quarter. Finally, KBC Group NV purchased a new position in AdvanSix in the 1st quarter worth about $360,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In other news, insider Christopher Gramm sold 1,000 shares of AdvanSix stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $38.59, for a total transaction of $38,590.00. Following the completion of the sale, the insider now directly owns 36,765 shares in the company, valued at approximately $1,418,761.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.90% of the stock is owned by corporate insiders.

AdvanSix Trading Down 1.4 %

NYSE:ASIX opened at $35.13 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.22 and a quick ratio of 0.79. AdvanSix Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $57.10. The stock’s 50-day moving average is $36.45 and its two-hundred day moving average is $42.46. The stock has a market cap of $983.89 million, a PE ratio of 5.25 and a beta of 1.85.

AdvanSix (NYSE:ASIXGet Rating) last announced its quarterly earnings results on Friday, August 5th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.08. The business had revenue of $583.74 million during the quarter, compared to analyst estimates of $557.50 million. AdvanSix had a return on equity of 30.85% and a net margin of 10.13%. As a group, equities research analysts forecast that AdvanSix Inc. will post 7.05 earnings per share for the current fiscal year.

AdvanSix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th were issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.65%. This is a positive change from AdvanSix’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, August 15th. AdvanSix’s payout ratio is currently 8.67%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ASIX shares. StockNews.com raised AdvanSix from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler lowered their target price on AdvanSix from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, August 8th.

AdvanSix Company Profile

(Get Rating)

AdvanSix Inc manufactures and sells 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, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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Institutional Ownership by Quarter for AdvanSix (NYSE:ASIX)

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