Millennium Management LLC Has $864,000 Stock Holdings in AdvanSix Inc. (NYSE:ASIX)

Millennium Management LLC reduced its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 44.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,323 shares of the company's stock after selling 24,283 shares during the quarter. Millennium Management LLC owned 0.11% of AdvanSix worth $864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ASIX. Wellington Management Group LLP boosted its position in AdvanSix by 43.5% during the fourth quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock worth $19,199,000 after purchasing an additional 204,200 shares in the last quarter. Prudential Financial Inc. boosted its position in AdvanSix by 90.2% during the fourth quarter. Prudential Financial Inc. now owns 402,250 shares of the company's stock worth $11,460,000 after purchasing an additional 190,727 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AdvanSix by 441.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company's stock worth $6,248,000 after purchasing an additional 178,843 shares in the last quarter. American Century Companies Inc. boosted its position in AdvanSix by 15.8% during the fourth quarter. American Century Companies Inc. now owns 740,028 shares of the company's stock worth $21,083,000 after purchasing an additional 100,841 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in AdvanSix during the fourth quarter worth $1,337,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of AdvanSix stock in a transaction on 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 in the company, valued at $808,713.12. The trade was a 9.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is owned by insiders.

AdvanSix Trading Up 1.2%

NYSE:ASIX traded up $0.28 on Friday, hitting $23.87. 116,422 shares of the stock were exchanged, compared to its average volume of 152,939. The stock has a market cap of $639.89 million, a PE ratio of 14.82 and a beta of 1.62. 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 has a fifty day moving average of $22.10 and a 200-day moving average of $26.34. AdvanSix Inc. has a fifty-two week low of $18.44 and a fifty-two week high of $33.00.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, May 13th. AdvanSix's dividend payout ratio (DPR) is presently 20.51%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASIX. Wall Street Zen upgraded AdvanSix from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 31st. Piper Sandler set a $32.00 price objective on AdvanSix in a research report on Monday, May 19th. Finally, UBS Group set a $35.00 price objective on AdvanSix in a research report on Tuesday, March 18th.

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.