Intech Investment Management LLC Raises Holdings in AdvanSix Inc. (NYSE:ASIX)

Intech Investment Management LLC lifted its position in shares of AdvanSix Inc. (NYSE:ASIX) by 101.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,173 shares of the company’s stock after purchasing an additional 9,167 shares during the period. Intech Investment Management LLC’s holdings in AdvanSix were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ASIX. Wellington Management Group LLP increased its position in AdvanSix by 48.6% during the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after buying an additional 153,686 shares during the period. Oliver Luxxe Assets LLC acquired a new position in shares of AdvanSix in the 4th quarter valued at $1,403,000. Barclays PLC raised its position in AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after purchasing an additional 32,706 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in AdvanSix by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock worth $3,177,000 after purchasing an additional 13,316 shares during the period. Finally, Jane Street Group LLC grew its position in AdvanSix by 162.8% during the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after purchasing an additional 31,915 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler decreased their price objective on AdvanSix from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Finally, UBS Group set a $35.00 target price on AdvanSix in a report on Tuesday, March 18th.

AdvanSix Price Performance

Shares of NYSE:ASIX opened at $23.04 on Tuesday. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $33.00. The company has a 50-day moving average price of $28.48 and a 200 day moving average price of $29.24. The company has a market cap of $616.18 million, a P/E ratio of 14.31 and a beta of 1.73. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, beating 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 analysts’ expectations of $377.15 million. Research analysts predict that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.16 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.78%. AdvanSix’s dividend payout ratio is presently 39.75%.

Insider Activity 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 value of $150,950.00. Following the sale, the chief executive officer now owns 502,795 shares of the company’s stock, valued at $15,179,381.05. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

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.