Charles Schwab Investment Management Inc. Trims Holdings in AdvanSix Inc. (NYSE:ASIX)

Charles Schwab Investment Management Inc. cut its holdings in AdvanSix Inc. (NYSE:ASIX) by 15.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 318,813 shares of the company’s stock after selling 59,343 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in AdvanSix were worth $9,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP grew its position in shares of AdvanSix by 618.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock worth $132,000 after buying an additional 3,754 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of AdvanSix by 29.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after buying an additional 1,396 shares during the period. Quadrature Capital Ltd bought a new position in AdvanSix in the 3rd quarter worth about $204,000. Foundations Investment Advisors LLC bought a new position in AdvanSix in the 4th quarter worth about $223,000. Finally, Intech Investment Management LLC bought a new position in AdvanSix in the 3rd quarter worth about $274,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Stock Performance

Shares of AdvanSix stock opened at $22.99 on Friday. 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 stock has a market cap of $614.84 million, a price-to-earnings ratio of 14.28 and a beta of 1.73. The firm’s 50-day moving average is $28.60 and its 200 day moving average is $29.26. AdvanSix Inc. has a 1 year low of $20.86 and a 1 year high of $33.00.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.40. The business had revenue of $329.06 million for the quarter, compared to analysts’ expectations of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. Sell-side analysts anticipate that AdvanSix Inc. will post 4 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, March 10th. AdvanSix’s dividend payout ratio is currently 39.75%.

Analyst Upgrades and Downgrades

ASIX has been the topic of a number of analyst reports. UBS Group set a $35.00 price target on shares of AdvanSix in a research note on Tuesday. StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler dropped their price target on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the transaction, the chief executive officer now owns 502,795 shares in the company, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

AdvanSix Company 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.