Bank of New York Mellon Corp Reduces Stake in AdvanSix (NYSE:ASIX)

Bank of New York Mellon Corp reduced its stake in AdvanSix (NYSE:ASIX - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,408 shares of the company's stock after selling 11,191 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.14% of AdvanSix worth $6,895,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of AdvanSix by 149.5% in the 1st quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock valued at $45,000 after purchasing an additional 1,178 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of AdvanSix in the 4th quarter valued at $137,000. State of Wyoming acquired a new position in shares of AdvanSix in the 4th quarter valued at $156,000. ProShare Advisors LLC acquired a new position in shares of AdvanSix in the 4th quarter valued at $220,000. Finally, GeoWealth Management LLC acquired a new position in shares of AdvanSix in the 4th quarter valued at $221,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ASIX shares. Piper Sandler set a $32.00 target price on AdvanSix in a research note on Monday, May 19th. Wall Street Zen raised AdvanSix from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 31st.

AdvanSix Stock Up 0.0%

ASIX stock traded up $0.01 during mid-day trading on Friday, reaching $21.94. The company had a trading volume of 198,850 shares, compared to its average volume of 216,686. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.56 and a current ratio of 1.19. The company has a market capitalization of $588.10 million, a price-to-earnings ratio of 7.03 and a beta of 1.60. The firm has a fifty day simple moving average of $23.68 and a 200 day simple moving average of $24.85. AdvanSix has a fifty-two week low of $18.44 and a fifty-two week high of $33.00.

AdvanSix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.92%. AdvanSix's payout ratio is currently 20.51%.

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.