AdvanSix Inc. (NYSE:ASIX) Stake Lowered by Voya Investment Management LLC

Voya Investment Management LLC decreased its stake in AdvanSix Inc. (NYSE:ASIX) by 8.1% during the 4th quarter, HoldingsChannel reports. The firm owned 8,276 shares of the company’s stock after selling 732 shares during the period. Voya Investment Management LLC’s holdings in AdvanSix were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of AdvanSix by 18.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,948 shares of the company’s stock worth $284,000 after purchasing an additional 1,574 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of AdvanSix by 61.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 19,856 shares of the company’s stock worth $566,000 after purchasing an additional 7,565 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AdvanSix by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company’s stock worth $44,982,000 after purchasing an additional 12,793 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of AdvanSix in the 4th quarter worth approximately $221,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of AdvanSix by 7.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 26,601 shares of the company’s stock worth $759,000 after purchasing an additional 1,880 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

AdvanSix Trading Down 1.1%

NYSE:ASIX opened at $23.95 on Wednesday. AdvanSix Inc. has a 1 year low of $18.44 and a 1 year high of $33.00. The business has a fifty day moving average of $22.10 and a 200-day moving average of $27.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. The stock has a market cap of $642.17 million, a price-to-earnings ratio of 14.88 and a beta of 1.59.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.40. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The company had revenue of $329.06 million for the quarter, compared to analysts’ expectations of $377.15 million. Equities analysts predict that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.64 annualized dividend and a yield of 2.67%. AdvanSix’s dividend payout ratio is currently 20.51%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ASIX shares. UBS Group set a $35.00 price objective on shares of AdvanSix in a research report on Tuesday, March 18th. StockNews.com downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Piper Sandler downgraded shares of AdvanSix from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $26.00 in a research report on Monday, April 7th.

Insider Buying and Selling

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total transaction of $88,960.00. Following the completion of the sale, the senior vice president now owns 36,363 shares in the company, valued at approximately $808,713.12. This represents a 9.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is owned by corporate insiders.

AdvanSix 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.