Geode Capital Management LLC Acquires 8,903 Shares of AdvanSix Inc. (NYSE:ASIX)

Geode Capital Management LLC boosted its stake in AdvanSix Inc. (NYSE:ASIX) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 598,485 shares of the company’s stock after acquiring an additional 8,903 shares during the period. Geode Capital Management LLC’s holdings in AdvanSix were worth $18,186,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of AdvanSix by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company’s stock valued at $8,237,000 after purchasing an additional 7,925 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in AdvanSix in the second quarter worth about $51,000. Acadian Asset Management LLC purchased a new stake in AdvanSix in the second quarter worth about $36,000. Texas Permanent School Fund Corp boosted its position in AdvanSix by 19.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 27,990 shares of the company’s stock valued at $642,000 after acquiring an additional 4,556 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of AdvanSix by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock worth $13,611,000 after acquiring an additional 30,500 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 522,795 shares of the company’s stock, valued at $15,830,232.60. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Gramm sold 1,951 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. 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 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock worth $474,058 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

AdvanSix Stock Performance

Shares of ASIX opened at $28.16 on Friday. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $33.00. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock has a market cap of $752.74 million, a P/E ratio of 19.97 and a beta of 1.73. The business’s 50 day moving average price is $30.18 and its 200-day moving average price is $28.19.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.27%. AdvanSix’s dividend payout ratio is currently 45.39%.

Analyst Upgrades and Downgrades

ASIX has been the topic of several research reports. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a 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.