Alliancebernstein L.P. Sells 65,957 Shares of AdvanSix $ASIX

Key Points

• Alliancebernstein L.P. reduced its stake in AdvanSix by 6.0%, selling 65,957 shares during the 1st quarter, leaving it with a total of 1,036,156 shares valued at approximately $23.47 million.
• Several institutional investors increased their holdings in AdvanSix during the same quarter, with LSV Asset Management leading with a 23.2% increase in their position.
• AdvanSix recently declared a quarterly dividend of $0.16 per share, representing an annualized yield of 3.1% and a payout ratio of 22.54%.

Alliancebernstein L.P. lessened its position in AdvanSix (NYSE:ASIX - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,036,156 shares of the company's stock after selling 65,957 shares during the quarter. Alliancebernstein L.P. owned about 3.86% of AdvanSix worth $23,469,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in AdvanSix by 0.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company's stock valued at $54,530,000 after purchasing an additional 15,367 shares during the last quarter. Vanguard Group Inc. raised its stake in AdvanSix by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock valued at $44,871,000 after purchasing an additional 29,963 shares during the last quarter. American Century Companies Inc. raised its stake in AdvanSix by 11.3% during the 1st quarter. American Century Companies Inc. now owns 823,706 shares of the company's stock valued at $18,657,000 after purchasing an additional 83,678 shares during the last quarter. Wellington Management Group LLP raised its stake in AdvanSix by 5.7% during the 1st quarter. Wellington Management Group LLP now owns 712,431 shares of the company's stock valued at $16,137,000 after purchasing an additional 38,546 shares during the last quarter. Finally, LSV Asset Management raised its stake in AdvanSix by 23.2% during the 1st quarter. LSV Asset Management now owns 601,247 shares of the company's stock valued at $13,618,000 after purchasing an additional 113,147 shares during the last quarter. Institutional investors own 86.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ASIX. Piper Sandler set a $32.00 target price on shares of AdvanSix in a research note on Monday, May 19th. Wall Street Zen cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $33.50.

AdvanSix Trading Down 0.1%

Shares of ASIX stock opened at $20.60 on Thursday. AdvanSix has a 52-week low of $17.97 and a 52-week high of $33.00. The stock has a market cap of $552.90 million, a price-to-earnings ratio of 7.25 and a beta of 1.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.66 and a current ratio of 1.35. The firm has a fifty day moving average of $21.16 and a 200-day moving average of $22.54.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.16 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. AdvanSix's dividend payout ratio is currently 22.54%.

AdvanSix Company 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.

Want to see what other hedge funds are holding ASIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AdvanSix (NYSE:ASIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.