AdvanSix Inc. (NYSE:ASIX) Shares Sold by State Street Corp

State Street Corp lessened its holdings in shares of AdvanSix Inc. (NYSE:ASIX) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030,719 shares of the company’s stock after selling 754 shares during the period. State Street Corp’s holdings in AdvanSix were worth $31,313,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in AdvanSix in the 2nd quarter valued at $34,000. Acadian Asset Management LLC acquired a new position in shares of AdvanSix during the 2nd quarter valued at about $36,000. Copeland Capital Management LLC purchased a new stake in shares of AdvanSix in the third quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AdvanSix during the second quarter worth about $51,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in AdvanSix during the second quarter worth about $51,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix Trading Down 0.8 %

Shares of ASIX stock opened at $28.05 on Friday. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $33.00. The firm has a market cap of $749.80 million, a PE ratio of 19.89 and a beta of 1.73. The company has a 50-day moving average of $30.39 and a two-hundred day moving average of $28.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.28%. AdvanSix’s payout ratio is currently 45.39%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASIX. Piper Sandler raised their price target on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

Insider Activity at AdvanSix

In other news, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. The trade was a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the transaction, the chief executive officer now directly owns 517,795 shares in the company, valued at approximately $15,725,434.15. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,369 shares of company stock worth $474,058. 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.