Sheets Smith Wealth Management Acquires 569 Shares of AdvanSix Inc. (NYSE:ASIX)

Sheets Smith Wealth Management raised its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 15,772 shares of the company’s stock after buying an additional 569 shares during the period. Sheets Smith Wealth Management’s holdings in AdvanSix were worth $449,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ASIX. Oliver Luxxe Assets LLC acquired a new stake in AdvanSix in the 4th quarter valued at $1,403,000. JPMorgan Chase & Co. boosted its stake in shares of AdvanSix by 14.6% in the 3rd 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. Barclays PLC increased its position in shares of AdvanSix by 319.2% during the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after purchasing an additional 32,706 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AdvanSix by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock valued at $18,186,000 after purchasing an additional 8,903 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after buying an additional 1,396 shares in the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Trading Down 2.6 %

ASIX opened at $31.08 on Thursday. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $33.00. The stock has a market capitalization of $830.85 million, a PE ratio of 22.04 and a beta of 1.76. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $29.97 and a two-hundred day moving average price of $29.01.

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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.06%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Erin N. Kane sold 5,000 shares of AdvanSix 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 completion of the sale, the chief executive officer now directly owns 517,795 shares in the company, valued at $15,725,434.15. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Gramm sold 2,435 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,749 shares of company stock valued at $444,205. 5.60% of the stock is currently owned by corporate insiders.

AdvanSix Company 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.