The Manufacturers Life Insurance Company Lowers Position in AdvanSix Inc. (NYSE:ASIX)

The Manufacturers Life Insurance Company reduced its stake in AdvanSix Inc. (NYSE:ASIX) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,401 shares of the company’s stock after selling 736 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AdvanSix were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC purchased a new stake in AdvanSix in the 4th quarter valued at $94,000. KLP Kapitalforvaltning AS bought a new position in AdvanSix in the 4th quarter valued at $137,000. GeoWealth Management LLC bought a new position in AdvanSix in the 4th quarter valued at $221,000. Foundations Investment Advisors LLC bought a new position in AdvanSix in the 4th quarter valued at $223,000. Finally, Envestnet Asset Management Inc. bought a new position in AdvanSix in the 4th quarter valued at $228,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of AdvanSix 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 completion of the sale, the senior vice president now owns 36,363 shares in the company, valued at approximately $808,713.12. This trade represents a 9.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

AdvanSix Stock Up 1.1%

ASIX stock opened at $23.49 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. The company has a market capitalization of $629.70 million, a price-to-earnings ratio of 14.59 and a beta of 1.59. AdvanSix Inc. has a fifty-two week low of $18.44 and a fifty-two week high of $33.00. The stock has a fifty day moving average of $21.93 and a 200-day moving average of $27.02.

AdvanSix (NYSE:ASIX) last issued its 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. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The business had revenue of $329.06 million during the quarter, compared to the consensus estimate of $377.15 million. As a group, equities research analysts predict that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

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