Rhumbline Advisers Has $2.42 Million Stock Position in AdvanSix Inc. (NYSE:ASIX)

Rhumbline Advisers lifted its stake in AdvanSix Inc. (NYSE:ASIX) by 1.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,984 shares of the company’s stock after purchasing an additional 1,198 shares during the quarter. Rhumbline Advisers owned 0.32% of AdvanSix worth $2,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ASIX. Empowered Funds LLC lifted its stake in AdvanSix by 5.1% in the 4th quarter. Empowered Funds LLC now owns 158,122 shares of the company’s stock worth $4,505,000 after acquiring an additional 7,670 shares in the last quarter. Meritage Portfolio Management lifted its stake in AdvanSix by 12.5% in the 4th quarter. Meritage Portfolio Management now owns 11,730 shares of the company’s stock worth $334,000 after acquiring an additional 1,301 shares in the last quarter. Nilsine Partners LLC lifted its stake in AdvanSix by 3.1% in the 4th quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock worth $606,000 after acquiring an additional 650 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in AdvanSix in the 4th quarter worth about $223,000. Finally, Oliver Luxxe Assets LLC purchased a new stake in AdvanSix in the 4th quarter worth about $1,403,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

Insider Activity at AdvanSix

In other news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the sale, the chief executive officer now owns 502,795 shares of the company’s stock, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

ASIX has been the subject of several research analyst reports. Piper Sandler increased their price objective on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Up 0.4 %

ASIX opened at $27.79 on Monday. AdvanSix Inc. has a fifty-two week low of $20.86 and a fifty-two week high of $33.00. The business has a 50-day moving average of $29.55 and a 200-day moving average of $29.76. 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 company has a market capitalization of $743.22 million, a PE ratio of 17.26 and a beta of 1.76.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The company had revenue of $329.06 million during the quarter, compared to the consensus estimate of $377.15 million. Equities research analysts forecast that AdvanSix Inc. will post 4 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, March 10th. AdvanSix’s payout ratio is 39.75%.

AdvanSix Profile

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.