Shell Asset Management Co. Trims Stake in AdvanSix Inc. (NYSE:ASIX)

Shell Asset Management Co. reduced its stake in shares of AdvanSix Inc. (NYSE:ASIX – Get Rating) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,147 shares of the company’s stock after selling 1,874 shares during the quarter. Shell Asset Management Co.’s holdings in AdvanSix were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Credit Suisse AG raised its position in AdvanSix by 1.2% during the third quarter. Credit Suisse AG now owns 23,362 shares of the company’s stock valued at $750,000 after acquiring an additional 284 shares in the last quarter. Assetmark Inc. grew its holdings in AdvanSix by 1.3% in the third quarter. Assetmark Inc. now owns 25,105 shares of the company’s stock valued at $806,000 after purchasing an additional 324 shares during the period. Royal Bank of Canada grew its holdings in AdvanSix by 1.6% in the first quarter. Royal Bank of Canada now owns 21,850 shares of the company’s stock valued at $1,116,000 after purchasing an additional 350 shares during the period. Texas Permanent School Fund grew its holdings in AdvanSix by 1.9% in the second quarter. Texas Permanent School Fund now owns 20,316 shares of the company’s stock valued at $679,000 after purchasing an additional 372 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in AdvanSix by 5.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,806 shares of the company’s stock valued at $283,000 after purchasing an additional 478 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix Price Performance

NYSE:ASIX opened at $41.56 on Monday. AdvanSix Inc. has a 52 week low of $30.69 and a 52 week high of $57.10. The company has a quick ratio of 0.57, a current ratio of 1.12 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.14 billion, a P/E ratio of 7.03 and a beta of 1.84. The stock’s fifty day moving average is $41.08 and its two-hundred day moving average is $38.32.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 3rd will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 2nd. AdvanSix’s dividend payout ratio is presently 9.81%.

Insider Buying and Selling

In other news, insider Christopher Gramm sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $40.30, for a total transaction of $40,300.00. Following the completion of the sale, the insider now owns 32,954 shares in the company, valued at approximately $1,328,046.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ASIX has been the topic of several research analyst reports. StockNews.com lowered AdvanSix from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 31st. Piper Sandler set a $52.00 price target on AdvanSix in a research note on Wednesday, November 23rd.

AdvanSix Profile

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Advansix, Inc engages in the development and production of nylon resin products and other additives. The firm’s products include nylon resin, caprolactam, ammonium sulfate fertilizer and chemical intermediates. It offers products to carpet, engineering plastic, food packaging, building and construction, composites, plant nutrition, paints and coating markets.