Wellington Management Group LLP Boosts Stake in AdvanSix Inc. (NYSE:ASIX)

Wellington Management Group LLP boosted its position in shares of AdvanSix Inc. (NYSE:ASIX) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 673,885 shares of the company’s stock after buying an additional 204,200 shares during the period. Wellington Management Group LLP owned approximately 2.52% of AdvanSix worth $19,199,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC bought a new position in shares of AdvanSix during the 4th quarter valued at approximately $1,403,000. Barclays PLC lifted its position in AdvanSix by 319.2% during the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after purchasing an additional 32,706 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of AdvanSix by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock worth $3,177,000 after buying an additional 13,316 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of AdvanSix by 162.8% in the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after buying an additional 31,915 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of AdvanSix by 15.8% in the 4th quarter. American Century Companies Inc. now owns 740,028 shares of the company’s stock worth $21,083,000 after buying an additional 100,841 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Performance

AdvanSix stock opened at $19.21 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. The firm has a market capitalization of $513.62 million, a P/E ratio of 11.93 and a beta of 1.64. AdvanSix Inc. has a 1-year low of $18.71 and a 1-year high of $33.00. The company’s 50-day moving average is $26.59 and its 200 day moving average is $28.83.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The firm had revenue of $329.06 million during the quarter, compared to analyst estimates of $377.15 million. Research analysts forecast that AdvanSix Inc. will post 4 EPS for the current year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Monday, March 10th. AdvanSix’s dividend payout ratio is currently 39.75%.

Analyst Upgrades and Downgrades

ASIX has been the subject of several recent research reports. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Piper Sandler cut AdvanSix from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $26.00 in a report on Monday. Finally, UBS Group set a $35.00 price target on AdvanSix in a report on Tuesday, March 18th.

Insider Transactions at AdvanSix

In other news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the transaction, the chief executive officer now owns 502,795 shares of the company’s stock, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Achilles B. Kintiroglou sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value 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 disclosure for this sale can be found here. 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.