State Board of Administration of Florida Retirement System Has $374,000 Stock Holdings in AdvanSix Inc. (NYSE:ASIX)

State Board of Administration of Florida Retirement System cut its stake in AdvanSix Inc. (NYSE:ASIXGet Rating) by 19.9% during the second quarter, HoldingsChannel reports. The fund owned 11,192 shares of the company’s stock after selling 2,780 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in AdvanSix were worth $374,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Whittier Trust Co. increased its position in AdvanSix by 122.3% during the first quarter. Whittier Trust Co. now owns 589 shares of the company’s stock worth $30,000 after buying an additional 324 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in AdvanSix during the first quarter worth $32,000. Captrust Financial Advisors increased its position in AdvanSix by 30.1% during the first quarter. Captrust Financial Advisors now owns 2,656 shares of the company’s stock worth $136,000 after buying an additional 614 shares during the last quarter. Dupont Capital Management Corp acquired a new position in AdvanSix during the second quarter worth $143,000. Finally, Private Advisor Group LLC acquired a new position in AdvanSix during the first quarter worth $221,000. 83.87% of the stock is owned by institutional investors and hedge funds.

AdvanSix Trading Up 1.0 %

Shares of NYSE:ASIX opened at $39.18 on Monday. The company has a market cap of $1.08 billion, a P/E ratio of 7.08 and a beta of 1.78. The stock’s 50-day moving average is $34.92 and its 200-day moving average is $37.58. AdvanSix Inc. has a 52-week low of $30.69 and a 52-week high of $57.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.68 and a current ratio of 1.14.

AdvanSix (NYSE:ASIXGet Rating) last issued its quarterly earnings results on Friday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.15. The company had revenue of $478.77 million for the quarter, compared to the consensus estimate of $463.47 million. AdvanSix had a return on equity of 24.18% and a net margin of 8.23%. Equities research analysts predict that AdvanSix Inc. will post 6.39 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, November 14th. AdvanSix’s payout ratio is presently 10.49%.

Insider Activity at AdvanSix

In related news, insider Christopher Gramm sold 1,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the insider now owns 33,954 shares in the company, valued at $1,358,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 3,000 shares of company stock worth $106,770. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

ASIX has been the topic of several analyst reports. Piper Sandler lowered their target price on shares of AdvanSix from $60.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, October 10th. StockNews.com raised shares of AdvanSix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 16th.

AdvanSix Company Profile

(Get Rating)

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, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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Institutional Ownership by Quarter for AdvanSix (NYSE:ASIX)

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