Northern Trust Corp Acquires 34,236 Shares of AdvanSix Inc. (NYSE:ASIX)

Northern Trust Corp lifted its position in AdvanSix Inc. (NYSE:ASIX - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,561 shares of the company's stock after purchasing an additional 34,236 shares during the period. Northern Trust Corp owned about 1.17% of AdvanSix worth $8,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ASIX. Tudor Investment Corp ET AL acquired a new stake in shares of AdvanSix in the fourth quarter valued at about $314,000. Price T Rowe Associates Inc. MD raised its holdings in shares of AdvanSix by 18.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,948 shares of the company's stock valued at $284,000 after buying an additional 1,574 shares during the period. State of Tennessee Department of Treasury boosted its stake in shares of AdvanSix by 61.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 19,856 shares of the company's stock valued at $566,000 after purchasing an additional 7,565 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AdvanSix by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company's stock worth $44,982,000 after acquiring an additional 12,793 shares during the period. Finally, GeoWealth Management LLC acquired a new stake in AdvanSix in the fourth quarter valued at approximately $221,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASIX has been the subject of several recent analyst reports. UBS Group set a $35.00 price objective on shares of AdvanSix in a research report on Tuesday, March 18th. Wall Street Zen upgraded shares of AdvanSix from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Finally, Piper Sandler set a $32.00 price target on AdvanSix in a research note on Monday, May 19th.

Insiders Place Their Bets

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 stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the transaction, the senior vice president now directly owns 36,363 shares of the company's stock, valued at $808,713.12. This represents a 9.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.

AdvanSix Stock Down 2.3%

Shares of ASIX stock traded down $0.54 during trading hours on Friday, reaching $23.06. The company had a trading volume of 122,793 shares, compared to its average volume of 153,397. The company has a market capitalization of $618.33 million, a P/E ratio of 14.32 and a beta of 1.59. AdvanSix Inc. has a twelve month low of $18.44 and a twelve month high of $33.00. The stock's fifty day simple moving average is $21.95 and its 200 day simple moving average is $26.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08.

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

AdvanSix Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, May 13th. AdvanSix's dividend payout ratio is currently 20.51%.

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.