News

Jun 13, 2023

AdvanSix Inc. (NYSE:ASIX) Stock Position Increased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lifted its position in AdvanSix Inc. (NYSE:ASIX - Free Report) by 33.4% during the first quarter, according to its most recent 13F filing with the SEC. The

Texas Permanent School Fund Corp lifted its position in AdvanSix Inc. (NYSE:ASIX - Free Report) by 33.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,722 shares of the company's stock after buying an additional 6,189 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of AdvanSix worth $946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASIX. Wasatch Advisors Inc. bought a new stake in shares of AdvanSix in the 1st quarter worth $31,153,000. Bank of America Corp DE raised its position 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 during the period. Alliancebernstein L.P. raised its position in shares of AdvanSix by 32.6% during the third quarter. Alliancebernstein L.P. now owns 967,840 shares of the company's stock worth $31,068,000 after purchasing an additional 237,798 shares during the period. FMR LLC raised its position in shares of AdvanSix by 42.3% during the second quarter. FMR LLC now owns 434,467 shares of the company's stock worth $14,529,000 after purchasing an additional 129,131 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of AdvanSix during the second quarter worth $4,181,000. Institutional investors own 84.20% of the company's stock.

A number of equities research analysts have recently issued reports on ASIX shares. Piper Sandler cut their target price on AdvanSix from $54.00 to $50.00 in a research report on Tuesday, May 16th. StockNews.com began coverage on AdvanSix in a research report on Thursday, May 18th. They set a "buy" rating on the stock.

Get Our Latest Analysis on AdvanSix

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 3,335 shares of the company's stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $34.70, for a total value of $115,724.50. Following the transaction, the senior vice president now directly owns 32,934 shares of the company's stock, valued at approximately $1,142,809.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Christopher Gramm sold 1,000 shares of the company's stock in a transaction dated Friday, June 16th. The stock was 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 approximately $1,249,741.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Achilles B. Kintiroglou sold 3,335 shares of the company's stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold a total of 13,005 shares of company stock valued at $473,926 in the last three months. Insiders own 5.20% of the company's stock.

NYSE:ASIX opened at $39.77 on Thursday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 7.99 and a beta of 1.83. AdvanSix Inc. has a 1-year low of $30.69 and a 1-year high of $44.57. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.17. The business's fifty day moving average price is $36.19 and its 200 day moving average price is $37.99.

AdvanSix (NYSE:ASIX - Get Free Report) last posted its quarterly earnings results on Friday, May 5th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.29. AdvanSix had a return on equity of 19.88% and a net margin of 7.70%. The firm had revenue of $400.54 million for the quarter, compared to analyst estimates of $411.23 million. On average, sell-side analysts forecast that AdvanSix Inc. will post 3.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th were given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, May 15th. AdvanSix's payout ratio is currently 11.65%.

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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