Assetmark Inc. Purchases 4,914 Shares of AdvanSix Inc. (NYSE:ASIX)

Posted by Defense World Staff on Aug 11th, 2023

Assetmark Inc. lifted its position in AdvanSix Inc. (NYSE:ASIX – Free Report) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,568 shares of the company’s stock after purchasing an additional 4,914 shares during the quarter. Assetmark Inc. owned about 0.11% of AdvanSix worth $1,132,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of AdvanSix by 3.5% in the fourth quarter. Arizona State Retirement System now owns 7,902 shares of the company’s stock worth $300,000 after purchasing an additional 265 shares during the period. NorthCrest Asset Manangement LLC increased its stake in AdvanSix by 2.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 10,500 shares of the company’s stock valued at $399,000 after acquiring an additional 274 shares during the last quarter. Credit Suisse AG increased its stake in AdvanSix by 1.2% in the third quarter. Credit Suisse AG now owns 23,362 shares of the company’s stock valued at $750,000 after acquiring an additional 284 shares during the last quarter. Meritage Portfolio Management increased its stake in AdvanSix by 3.6% in the fourth quarter. Meritage Portfolio Management now owns 8,878 shares of the company’s stock valued at $338,000 after acquiring an additional 312 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in AdvanSix by 0.5% in the fourth quarter. Legal & General Group Plc now owns 66,874 shares of the company’s stock valued at $2,543,000 after acquiring an additional 312 shares during the last quarter. Institutional investors own 84.20% of the company’s stock.

AdvanSix Stock Performance

NYSE ASIX opened at $37.47 on Friday. The company has a 50-day simple moving average of $36.65 and a two-hundred day simple moving average of $37.84. The company has a quick ratio of 0.62, a current ratio of 1.37 and a debt-to-equity ratio of 0.18. AdvanSix Inc. has a 12-month low of $30.69 and a 12-month high of $44.57. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 9.58 and a beta of 1.83.

AdvanSix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.71%. This is a positive change from AdvanSix’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, August 14th. AdvanSix’s dividend payout ratio is presently 14.83%.

Analyst Ratings Changes

ASIX has been the topic of a number of research analyst reports. StockNews.com initiated coverage on AdvanSix in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Piper Sandler reduced their target price on AdvanSix from $54.00 to $50.00 in a research note on Tuesday, May 16th.

Read Our Latest Stock Report on AdvanSix

Insider Buying and Selling at AdvanSix

In other AdvanSix news, insider Christopher Gramm sold 1,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $35.09, for a total transaction of $35,090.00. Following the completion of the sale, the insider now directly owns 35,744 shares in the company, valued at $1,254,256.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Christopher Gramm sold 1,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $35.09, for a total transaction of $35,090.00. Following the completion of the sale, the insider now directly owns 35,744 shares in the company, valued at $1,254,256.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Achilles B. Kintiroglou sold 3,335 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $35.27, for a total transaction of $117,625.45. Following the sale, the senior vice president now owns 36,269 shares of the company’s stock, valued at $1,279,207.63. The disclosure for this sale can be found here. Insiders sold a total of 13,005 shares of company stock worth $473,926 over the last three months. Company insiders own 5.20% of the company’s stock.

AdvanSix Company Profile

(Free Report)

AdvanSix Inc manufactures and sells 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.