Prudential Financial Inc. Purchases 190,727 Shares of AdvanSix Inc. (NYSE:ASIX)

Prudential Financial Inc. lifted its position in shares of AdvanSix Inc. (NYSE:ASIX) by 90.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 402,250 shares of the company’s stock after acquiring an additional 190,727 shares during the quarter. Prudential Financial Inc.’s holdings in AdvanSix were worth $11,460,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ASIX. AlphaQuest LLC purchased a new stake in AdvanSix during the fourth quarter valued at about $94,000. Quantbot Technologies LP lifted its stake in shares of AdvanSix by 618.5% during the 3rd quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock valued at $132,000 after buying an additional 3,754 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in AdvanSix in the 4th quarter worth approximately $137,000. Public Employees Retirement System of Ohio grew its stake in AdvanSix by 29.9% in the 3rd 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. Finally, Quadrature Capital Ltd bought a new stake in AdvanSix during the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Down 2.1 %

Shares of NYSE:ASIX opened at $22.57 on Friday. The firm has a fifty day moving average price of $27.84 and a two-hundred day moving average price of $29.09. The company has a market cap of $603.61 million, a price-to-earnings ratio of 14.02 and a beta of 1.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. AdvanSix Inc. has a one year low of $20.86 and a one year high of $33.00.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $377.15 million. Analysts anticipate that AdvanSix Inc. will post 4 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Monday, March 10th. AdvanSix’s payout ratio is 39.75%.

Insider Buying and Selling

In related news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total value of $150,950.00. Following the completion of the transaction, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Piper Sandler cut their target price on AdvanSix from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, UBS Group set a $35.00 target price on AdvanSix in a report on Tuesday, March 18th.

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.