Jane Street Group LLC Grows Stake in AdvanSix Inc. (NYSE:ASIX)

Jane Street Group LLC boosted its stake in AdvanSix Inc. (NYSE:ASIX) by 162.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 51,513 shares of the company’s stock after buying an additional 31,915 shares during the quarter. Jane Street Group LLC’s holdings in AdvanSix were worth $1,565,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in AdvanSix in the 2nd quarter valued at $34,000. Acadian Asset Management LLC acquired a new stake in AdvanSix during the 2nd quarter worth $36,000. Copeland Capital Management LLC purchased a new stake in shares of AdvanSix during the third quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AdvanSix in the second quarter valued at about $51,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of AdvanSix in the second quarter worth about $51,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

AdvanSix Price Performance

ASIX opened at $28.52 on Friday. The firm has a market cap of $762.37 million, a price-to-earnings ratio of 20.23 and a beta of 1.73. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $30.26 and its 200 day moving average price is $28.16. AdvanSix Inc. has a 12-month low of $20.86 and a 12-month high of $33.00.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.24%. AdvanSix’s payout ratio is 45.39%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ASIX. Piper Sandler increased their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling

In other AdvanSix news, Director Donald P. Newman purchased 5,030 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the acquisition, the director now directly owns 5,030 shares of the company’s stock, valued at $149,089.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the transaction, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 in the last three months. 5.60% of the stock is owned by corporate insiders.

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.