AdvanSix $ASIX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of AdvanSix (NYSE:ASIX) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 298,203 shares of the company’s stock after selling 6,205 shares during the quarter. Bank of New York Mellon Corp owned 1.11% of AdvanSix worth $7,082,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ASIX. Farther Finance Advisors LLC grew its stake in shares of AdvanSix by 1,195.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock worth $74,000 after purchasing an additional 2,882 shares during the period. AlphaQuest LLC boosted its holdings in AdvanSix by 22.3% during the first quarter. AlphaQuest LLC now owns 4,014 shares of the company’s stock worth $91,000 after buying an additional 731 shares in the last quarter. Quantbot Technologies LP grew its position in AdvanSix by 33.2% during the first quarter. Quantbot Technologies LP now owns 4,096 shares of the company’s stock valued at $93,000 after buying an additional 1,022 shares during the period. CWM LLC increased its holdings in AdvanSix by 1,695.3% in the second quarter. CWM LLC now owns 7,594 shares of the company’s stock valued at $180,000 after buying an additional 7,171 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of AdvanSix in the first quarter worth about $221,000. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Stock Up 2.6%

ASIX opened at $14.75 on Friday. The company has a market cap of $396.19 million, a PE ratio of 7.68 and a beta of 1.72. AdvanSix has a twelve month low of $14.10 and a twelve month high of $33.00. The company has a 50-day moving average price of $18.77 and a 200 day moving average price of $21.11. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.31.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.32). AdvanSix had a return on equity of 7.14% and a net margin of 3.52%.The firm had revenue of $374.47 million for the quarter, compared to analysts’ expectations of $365.00 million. Sell-side analysts expect that AdvanSix will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. AdvanSix’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

ASIX has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research report on Monday. Wall Street Zen downgraded AdvanSix from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, AdvanSix has a consensus rating of “Hold” and a consensus target price of $33.50.

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.