BNP Paribas Financial Markets Raises Holdings in AdvanSix Inc. (NYSE:ASIX)

BNP Paribas Financial Markets increased its position in AdvanSix Inc. (NYSE:ASIX) by 120.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,855 shares of the company’s stock after acquiring an additional 10,284 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of AdvanSix worth $573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ASIX. First Eagle Investment Management LLC raised its stake in shares of AdvanSix by 33.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after purchasing an additional 151,470 shares during the period. American Century Companies Inc. increased its position in shares of AdvanSix by 5.4% during the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after buying an additional 30,500 shares during the period. Deprince Race & Zollo Inc. increased its position in shares of AdvanSix by 45.2% during the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after buying an additional 80,915 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of AdvanSix in the second quarter worth about $34,000. Finally, Millennium Management LLC boosted its position in shares of AdvanSix by 83.8% in the second quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock valued at $3,192,000 after acquiring an additional 63,489 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ASIX shares. Piper Sandler lifted their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th.

Insider Activity at AdvanSix

In other news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total transaction of $151,400.00. Following the completion of the transaction, the chief executive officer now owns 522,795 shares in the company, valued at $15,830,232.60. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donald P. Newman purchased 5,030 shares of AdvanSix stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $149,089.20. Following the transaction, the director now directly owns 5,030 shares of the company’s stock, valued at $149,089.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 15,369 shares of company stock valued at $474,058 over the last ninety days. Insiders own 5.60% of the company’s stock.

AdvanSix Stock Down 0.7 %

Shares of AdvanSix stock opened at $30.94 on Friday. AdvanSix Inc. has a 1 year low of $20.86 and a 1 year high of $33.00. The firm has a market cap of $827.03 million, a price-to-earnings ratio of 21.94 and a beta of 1.73. The company has a 50-day moving average of $30.56 and a 200 day moving average of $27.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%.

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.