Comerica Bank Sells 10,807 Shares of AdvanSix Inc. (NYSE:ASIX)

Comerica Bank reduced its holdings in AdvanSix Inc. (NYSE:ASIX - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,131 shares of the company's stock after selling 10,807 shares during the quarter. Comerica Bank's holdings in AdvanSix were worth $289,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of AdvanSix by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company's stock valued at $3,177,000 after purchasing an additional 13,316 shares in the last quarter. American Century Companies Inc. boosted its position in shares of AdvanSix by 15.8% during the fourth quarter. American Century Companies Inc. now owns 740,028 shares of the company's stock valued at $21,083,000 after purchasing an additional 100,841 shares in the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $1,403,000. Proficio Capital Partners LLC bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $663,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $228,000. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Stock Down 2.0%

AdvanSix stock traded down $0.47 during mid-day trading on Thursday, hitting $23.60. The company had a trading volume of 162,531 shares, compared to its average volume of 153,109. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock's 50 day moving average price is $21.95 and its two-hundred day moving average price is $26.90. AdvanSix Inc. has a 12 month low of $18.44 and a 12 month high of $33.00. The company has a market capitalization of $632.73 million, a PE ratio of 14.66 and a beta of 1.59.

AdvanSix (NYSE:ASIX - Get Free Report) last released its earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, topping 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 business had revenue of $329.06 million for the quarter, compared to the consensus estimate of $377.15 million. As a group, sell-side analysts anticipate that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Tuesday, May 13th. AdvanSix's dividend payout ratio is currently 20.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group set a $35.00 price target on AdvanSix in a research report on Tuesday, March 18th. Piper Sandler set a $32.00 target price on AdvanSix in a report on Monday. Finally, Wall Street Zen raised AdvanSix from a "hold" rating to a "buy" rating in a report on Monday.

Insider Transactions at AdvanSix

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

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.