JPMorgan Chase & Co. Raises Position in AdvanSix Inc. (NYSE:ASIX)

JPMorgan Chase & Co. boosted its position in AdvanSix Inc. (NYSE:ASIX) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,289 shares of the company’s stock after buying an additional 5,705 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.41% of AdvanSix worth $3,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Oliver Luxxe Assets LLC purchased a new stake in AdvanSix during the fourth quarter valued at about $1,403,000. Barclays PLC boosted its holdings in AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after buying an additional 32,706 shares during the period. Jane Street Group LLC raised its holdings in AdvanSix by 162.8% during the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock valued at $1,565,000 after acquiring an additional 31,915 shares during the period. American Century Companies Inc. lifted its position in shares of AdvanSix by 15.8% during the fourth quarter. American Century Companies Inc. now owns 740,028 shares of the company’s stock worth $21,083,000 after acquiring an additional 100,841 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of AdvanSix during the fourth quarter worth $663,000. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Stock Performance

NYSE:ASIX opened at $20.04 on Tuesday. AdvanSix Inc. has a twelve month low of $18.44 and a twelve month high of $33.00. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The stock has a market cap of $535.95 million, a P/E ratio of 12.45 and a beta of 1.64. The business’s 50-day moving average price is $24.08 and its two-hundred day moving average price is $28.00.

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

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, March 10th. AdvanSix’s dividend payout ratio (DPR) is currently 39.75%.

Analyst Ratings Changes

A number of research firms recently issued reports on ASIX. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Piper Sandler downgraded shares of AdvanSix from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $26.00 in a report on Monday, April 7th. Finally, UBS Group set a $35.00 target price on shares of AdvanSix in a report on Tuesday, March 18th.

Insider Transactions at AdvanSix

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the sale, the senior vice president now owns 36,363 shares of the company’s stock, valued at approximately $808,713.12. This represents a 9.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction 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 completion of the transaction, the chief executive officer now owns 502,795 shares in the company, valued at approximately $15,179,381.05. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

AdvanSix Company 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.