Royce & Associates LP Reduces Holdings in AdvanSix Inc. (NYSE:ASIX)

Royce & Associates LP reduced its position in AdvanSix Inc. (NYSE:ASIX) by 48.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,914 shares of the company’s stock after selling 12,378 shares during the period. Royce & Associates LP’s holdings in AdvanSix were worth $392,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ASIX. BNP Paribas Financial Markets increased its stake in shares of AdvanSix by 89.8% in the first quarter. BNP Paribas Financial Markets now owns 13,203 shares of the company’s stock worth $378,000 after buying an additional 6,245 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of AdvanSix by 227.0% in the 1st quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock worth $4,309,000 after purchasing an additional 104,587 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of AdvanSix by 48.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company’s stock worth $320,000 after purchasing an additional 3,630 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in AdvanSix by 8.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock worth $694,000 after buying an additional 1,904 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of AdvanSix during the 1st quarter valued at approximately $215,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

AdvanSix Trading Up 2.8 %

Shares of NYSE:ASIX opened at $29.90 on Thursday. The stock has a market capitalization of $799.09 million, a price-to-earnings ratio of 20.63 and a beta of 1.69. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $32.04. The company has a 50 day moving average price of $29.68 and a 200 day moving average price of $26.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.16 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.14%. AdvanSix’s dividend payout ratio (DPR) is 45.39%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler increased their target price on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. StockNews.com cut AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday.

Insiders Place Their Bets

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total transaction of $151,400.00. Following the sale, the chief executive officer now directly owns 522,795 shares of the company’s stock, valued at $15,830,232.60. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald P. Newman bought 5,030 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $29.64 per share, with a total value of $149,089.20. Following the transaction, the director now owns 5,030 shares of the company’s stock, valued at $149,089.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 13,418 shares of company stock worth $411,626. 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.