Algert Global LLC Has $1.06 Million Stock Position in AdvanSix Inc. (NYSE:ASIX)

Algert Global LLC cut its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 47.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,239 shares of the company's stock after selling 34,059 shares during the period. Algert Global LLC owned 0.14% of AdvanSix worth $1,061,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Inspire Investing LLC boosted its stake in shares of AdvanSix by 2.5% during the 4th quarter. Inspire Investing LLC now owns 15,628 shares of the company's stock worth $445,000 after acquiring an additional 387 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in AdvanSix by 3.7% during the fourth quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company's stock worth $449,000 after buying an additional 569 shares during the period. Nilsine Partners LLC lifted its stake in AdvanSix by 3.1% during the 4th quarter. Nilsine Partners LLC now owns 21,288 shares of the company's stock worth $606,000 after acquiring an additional 650 shares in the last quarter. Rhumbline Advisers increased its stake in AdvanSix by 1.4% during the 4th quarter. Rhumbline Advisers now owns 84,984 shares of the company's stock worth $2,421,000 after buying an additional 1,198 shares during the period. Finally, Meritage Portfolio Management grew its stake in AdvanSix by 12.5% during the 4th quarter. Meritage Portfolio Management now owns 11,730 shares of the company's stock worth $334,000 after purchasing an additional 1,301 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ASIX shares. UBS Group set a $35.00 target price on shares of AdvanSix in a research note on Tuesday, March 18th. StockNews.com cut AdvanSix from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Piper Sandler lowered shares of AdvanSix from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $35.00 to $26.00 in a research report on Monday, April 7th.

AdvanSix Stock Performance

ASIX stock traded down $0.26 during midday trading on Tuesday, reaching $23.95. 171,192 shares of the company were exchanged, compared to its average volume of 149,912. The firm has a market capitalization of $642.17 million, a price-to-earnings ratio of 14.88 and a beta of 1.59. 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 $18.44 and a one year high of $33.00. The business has a 50-day moving average price of $22.10 and a two-hundred day moving average price of $27.16.

AdvanSix (NYSE:ASIX - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.40. The company had revenue of $329.06 million during the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. Equities research analysts forecast that AdvanSix Inc. will post 4 EPS for the current year.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Tuesday, May 13th. AdvanSix's dividend payout ratio (DPR) is presently 20.51%.

Insider Buying and Selling at AdvanSix

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value of $88,960.00. Following the sale, the senior vice president now owns 36,363 shares in the company, valued at $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.60% of the company's stock.

About AdvanSix

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.