Principal Financial Group Inc. Decreases Position in AdvanSix Inc. (NYSE:ASIX)

Principal Financial Group Inc. lowered its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 10.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 125,852 shares of the company’s stock after selling 14,642 shares during the quarter. Principal Financial Group Inc.’s holdings in AdvanSix were worth $3,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Copeland Capital Management LLC purchased a new stake in AdvanSix during the 3rd quarter worth approximately $41,000. Point72 DIFC Ltd purchased a new position in shares of AdvanSix during the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC acquired a new position in shares of AdvanSix in the second quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in AdvanSix during the second quarter worth approximately $51,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of AdvanSix in the second quarter valued at approximately $51,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AdvanSix

In other news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares in the company, valued at approximately $15,725,434.15. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the transaction, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,418 shares of company stock worth $411,626. Insiders own 5.60% of the company’s stock.

AdvanSix Trading Up 4.2 %

ASIX opened at $31.16 on Friday. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $32.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The company’s 50 day simple moving average is $29.73 and its two-hundred day simple moving average is $26.94. The firm has a market capitalization of $832.91 million, a price-to-earnings ratio of 21.98 and a beta of 1.69.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.05%. AdvanSix’s payout ratio is 45.39%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ASIX shares. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler boosted their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

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.