AdvanSix Inc. (NYSE:ASIX) Shares Sold by Comerica Bank

Comerica Bank reduced its position in AdvanSix Inc. (NYSE:ASIX) by 51.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,131 shares of the company’s stock after selling 10,807 shares during the quarter. Comerica Bank’s holdings in AdvanSix were worth $289,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ASIX. AlphaQuest LLC acquired a new stake in shares of AdvanSix in the fourth quarter valued at approximately $94,000. KLP Kapitalforvaltning AS acquired a new stake in shares of AdvanSix in the fourth quarter valued at approximately $137,000. GeoWealth Management LLC acquired a new stake in shares of AdvanSix in the fourth quarter valued at approximately $221,000. Foundations Investment Advisors LLC acquired a new stake in shares of AdvanSix in the fourth quarter valued at approximately $223,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of AdvanSix in the fourth quarter valued at approximately $228,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the transaction, the senior vice president now owns 36,363 shares in the company, valued at approximately $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

AdvanSix Price Performance

AdvanSix stock opened at $23.49 on Friday. AdvanSix Inc. has a 12 month low of $18.44 and a 12 month high of $33.00. 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 business has a 50 day simple moving average of $21.93 and a 200-day simple moving average of $27.04. The stock has a market capitalization of $629.70 million, a PE ratio of 14.59 and a beta of 1.59.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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 return on equity of 6.26% and a net margin of 2.91%. Equities analysts predict that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.73%. The ex-dividend date is Tuesday, May 13th. AdvanSix’s payout ratio is 20.51%.

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.