AdvanSix Inc. (NYSE:ASIX) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in shares of AdvanSix Inc. (NYSE:ASIX) by 22.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,314 shares of the company’s stock after buying an additional 3,225 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of AdvanSix worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC purchased a new position in shares of AdvanSix in the fourth quarter valued at $94,000. KLP Kapitalforvaltning AS bought a new stake in shares of AdvanSix during the fourth quarter valued at about $137,000. Foundations Investment Advisors LLC bought a new stake in AdvanSix during the fourth quarter worth approximately $223,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of AdvanSix during the 4th quarter valued at about $237,000. Finally, Essential Planning LLC. acquired a new position in AdvanSix in the fourth quarter worth approximately $275,000. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Trading Up 6.4 %

ASIX opened at $22.67 on Friday. The stock has a market capitalization of $607.74 million, a PE ratio of 14.08 and a beta of 1.59. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $22.59 and a two-hundred day moving average price of $27.44. AdvanSix Inc. has a 1-year low of $18.44 and a 1-year high of $33.00.

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

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.82%. AdvanSix’s payout ratio is presently 20.51%.

Insider Buying and Selling at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total value of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total transaction of $88,960.00. Following the sale, the senior vice president now owns 36,363 shares in the company, valued at $808,713.12. The trade was a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ASIX shares. StockNews.com cut AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. UBS Group set a $35.00 price objective on AdvanSix in a research report on Tuesday, March 18th. Finally, Piper Sandler lowered AdvanSix from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $26.00 in a research note on Monday, April 7th.

About AdvanSix

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.