State Board of Administration of Florida Retirement System lowered its position in shares of AdvanSix Inc. (NYSE:ASIX – Get Rating) by 19.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,192 shares of the company’s stock after selling 2,780 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in AdvanSix were worth $374,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ASIX. Comerica Bank grew its holdings in shares of AdvanSix by 2.4% during the first quarter. Comerica Bank now owns 25,169 shares of the company’s stock valued at $1,335,000 after purchasing an additional 585 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of AdvanSix by 122.3% during the first quarter. Whittier Trust Co. now owns 589 shares of the company’s stock valued at $30,000 after purchasing an additional 324 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of AdvanSix by 2,306.9% during the first quarter. Victory Capital Management Inc. now owns 596,277 shares of the company’s stock valued at $30,295,000 after purchasing an additional 571,503 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of AdvanSix by 171.7% during the first quarter. Advisor Group Holdings Inc. now owns 21,040 shares of the company’s stock valued at $1,079,000 after purchasing an additional 13,296 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of AdvanSix by 12.6% during the first quarter. New York State Common Retirement Fund now owns 45,723 shares of the company’s stock valued at $2,336,000 after purchasing an additional 5,111 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on ASIX. StockNews.com raised AdvanSix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 16th. Piper Sandler decreased their price objective on AdvanSix from $60.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, October 10th.
AdvanSix Stock Performance
AdvanSix (NYSE:ASIX – Get Rating) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. AdvanSix had a return on equity of 24.18% and a net margin of 8.23%. The business had revenue of $478.77 million during the quarter, compared to analyst estimates of $463.47 million. On average, equities research analysts anticipate that AdvanSix Inc. will post 6.39 EPS for the current year.
AdvanSix Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be given a $0.145 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.58 dividend on an annualized basis and a yield of 1.48%. AdvanSix’s dividend payout ratio (DPR) is 10.49%.
Insiders Place Their Bets
In other AdvanSix news, insider Christopher Gramm sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the insider now directly owns 33,954 shares in the company, valued at $1,358,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 3,000 shares of company stock worth $106,770 over the last ninety days. Company insiders own 3.90% of the company’s stock.
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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