AdvanSix Inc. (NYSE:ASIX) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 312,561 shares of the company’s stock after buying an additional 34,236 shares during the quarter. Northern Trust Corp’s holdings in AdvanSix were worth $8,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ASIX. JPMorgan Chase & Co. lifted its holdings in shares of AdvanSix by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock valued at $3,177,000 after purchasing an additional 13,316 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in shares of AdvanSix by 3.7% in the fourth quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock valued at $449,000 after purchasing an additional 569 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of AdvanSix by 2.5% in the fourth quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock valued at $445,000 after purchasing an additional 387 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of AdvanSix in the fourth quarter valued at $1,403,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of AdvanSix in the fourth quarter valued at $223,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Trading Up 1.1%

NYSE ASIX opened at $23.49 on Monday. AdvanSix Inc. has a 1-year low of $18.44 and a 1-year high of $33.00. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $629.70 million, a PE ratio of 14.59 and a beta of 1.59. The firm’s fifty day simple moving average is $21.93 and its 200-day simple moving average is $27.02.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. The business had revenue of $329.06 million for the quarter, compared to the consensus estimate of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. As a group, sell-side analysts anticipate that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, May 13th. AdvanSix’s payout ratio is 20.51%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ASIX. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Piper Sandler downgraded shares of AdvanSix from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $26.00 in a research note on Monday, April 7th. Finally, UBS Group set a $35.00 price target on shares of AdvanSix in a research note on Tuesday, March 18th.

Insiders Place Their Bets

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total transaction of $88,960.00. Following the transaction, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

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.