American Century Companies Inc. raised its position in shares of AdvanSix Inc. (NYSE:ASIX – Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 381,257 shares of the company’s stock after acquiring an additional 51,537 shares during the period. American Century Companies Inc. owned approximately 1.38% of AdvanSix worth $14,591,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ASIX. Wasatch Advisors Inc. acquired a new position in shares of AdvanSix in the 1st quarter valued at about $31,153,000. Bank of America Corp DE lifted its stake in shares of AdvanSix by 1,257.2% during the fourth quarter. Bank of America Corp DE now owns 548,979 shares of the company’s stock worth $20,872,000 after purchasing an additional 508,531 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of AdvanSix in the first quarter valued at about $10,728,000. Alliancebernstein L.P. lifted its position in AdvanSix by 32.6% during the 3rd quarter. Alliancebernstein L.P. now owns 967,840 shares of the company’s stock worth $31,068,000 after acquiring an additional 237,798 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in AdvanSix by 62.1% in the first quarter. Pacer Advisors Inc. now owns 441,810 shares of the company’s stock valued at $16,908,000 after acquiring an additional 169,229 shares in the last quarter. 86.40% of the stock is currently owned by institutional investors and hedge funds.
AdvanSix Trading Up 2.4 %
NYSE ASIX opened at $33.87 on Friday. The company has a market capitalization of $921.47 million, a price-to-earnings ratio of 8.66 and a beta of 1.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.37 and a quick ratio of 0.62. AdvanSix Inc. has a 12 month low of $30.69 and a 12 month high of $44.57. The company’s fifty day moving average price is $36.18 and its two-hundred day moving average price is $36.82.
AdvanSix Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from AdvanSix’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, August 14th. AdvanSix’s payout ratio is 16.37%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ASIX. Piper Sandler decreased their price objective on shares of AdvanSix from $54.00 to $50.00 in a research report on Tuesday, May 16th. StockNews.com initiated coverage on AdvanSix in a research note on Thursday, August 17th. They set a “buy” rating for the company.
Get Our Latest Analysis on AdvanSix
Insider Activity at AdvanSix
In other AdvanSix news, insider Christopher Gramm sold 1,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $35.97, for a total transaction of $35,970.00. Following the completion of the sale, the insider now owns 34,744 shares in the company, valued at $1,249,741.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Achilles B. Kintiroglou sold 3,335 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $34.70, for a total value of $115,724.50. Following the sale, the senior vice president now owns 32,934 shares of the company’s stock, valued at approximately $1,142,809.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Gramm sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $35.97, for a total value of $35,970.00. Following the transaction, the insider now owns 34,744 shares of the company’s stock, valued at approximately $1,249,741.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,505 shares of company stock valued at $455,496. Corporate insiders own 5.20% of the company’s stock.
AdvanSix Company Profile
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.
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