Victory Capital Management Inc. Cuts Stake in AdvanSix Inc. (NYSE:ASIX)

Victory Capital Management Inc. reduced its holdings in shares of AdvanSix Inc. (NYSE:ASIX – Get Rating) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 517,844 shares of the company’s stock after selling 9,584 shares during the period. Victory Capital Management Inc.’s holdings in AdvanSix were worth $19,748,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in AdvanSix during the 1st quarter worth approximately $32,000. Captrust Financial Advisors increased its stake in AdvanSix by 30.1% during the 1st 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 period. Quantbot Technologies LP grew its holdings in AdvanSix by 77.2% during the 2nd quarter. Quantbot Technologies LP now owns 5,023 shares of the company’s stock worth $167,000 after acquiring an additional 2,188 shares in the last quarter. Dupont Capital Management Corp grew its holdings in AdvanSix by 51.4% during the 4th quarter. Dupont Capital Management Corp now owns 4,665 shares of the company’s stock worth $177,000 after acquiring an additional 1,584 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in AdvanSix by 18.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 5,573 shares of the company’s stock worth $179,000 after acquiring an additional 853 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASIX. Piper Sandler lowered their price target on shares of AdvanSix from $54.00 to $50.00 in a report on Tuesday, May 16th. StockNews.com began coverage on shares of AdvanSix in a report on Thursday. They issued a “buy” rating for the company.

AdvanSix Trading Up 1.5 %

Shares of AdvanSix stock opened at $35.23 on Monday. The company has a fifty day simple moving average of $36.84 and a 200-day simple moving average of $39.19. AdvanSix Inc. has a 12-month low of $30.69 and a 12-month high of $47.77. 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 stock has a market cap of $971.29 million, a price-to-earnings ratio of 7.07 and a beta of 1.84.

AdvanSix (NYSE:ASIX – Get Rating) last issued its earnings results on Friday, May 5th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.29. AdvanSix had a net margin of 7.70% and a return on equity of 19.88%. The business had revenue of $400.54 million during the quarter, compared to analysts’ expectations of $411.23 million. On average, equities analysts forecast that AdvanSix Inc. will post 3.97 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th will be given a $0.145 dividend. The ex-dividend date is Monday, May 15th. This represents a $0.58 annualized dividend and a yield of 1.65%. AdvanSix’s dividend payout ratio (DPR) is 11.65%.

Insider Activity at AdvanSix

In related news, insider Christopher Gramm sold 1,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $35.00, for a total value of $35,000.00. Following the completion of the sale, the insider now owns 37,744 shares in the company, valued at approximately $1,321,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,000 shares of company stock worth $193,410 in the last 90 days. 3.90% of the stock is owned by insiders.

AdvanSix Profile

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Advansix, Inc engages in the development and production of nylon resin products and other additives. The firm’s products include nylon resin, caprolactam, ammonium sulfate fertilizer and chemical intermediates. It offers products to carpet, engineering plastic, food packaging, building and construction, composites, plant nutrition, paints and coating markets.