Polymer Capital Management US LLC Acquires Shares of 8,133 AdvanSix Inc. (NYSE:ASIX)

Polymer Capital Management US LLC bought a new position in AdvanSix Inc. (NYSE:ASIX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,133 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of AdvanSix by 48.6% during the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after purchasing an additional 153,686 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of AdvanSix in the 4th quarter worth approximately $1,403,000. Barclays PLC increased its position in AdvanSix by 319.2% during the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after buying an additional 32,706 shares in the last quarter. JPMorgan Chase & Co. raised its stake in AdvanSix by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock valued at $3,177,000 after buying an additional 13,316 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in AdvanSix by 162.8% in the third quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after acquiring an additional 31,915 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the firm’s 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 of the company’s stock, valued at approximately $808,713.12. This trade represents a 9.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total value of $150,950.00. Following the transaction, the chief executive officer now owns 502,795 shares in the company, valued at $15,179,381.05. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ASIX shares. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Piper Sandler lowered shares of AdvanSix from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $26.00 in a research note on Monday. Finally, UBS Group set a $35.00 target price on shares of AdvanSix in a research note on Tuesday, March 18th.

AdvanSix Stock Down 2.6 %

ASIX stock opened at $18.72 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. AdvanSix Inc. has a 1-year low of $18.44 and a 1-year high of $33.00. The stock has a market capitalization of $500.51 million, a P/E ratio of 11.62 and a beta of 1.64. The business has a fifty day moving average price of $26.07 and a 200-day moving average price of $28.69.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $377.15 million. Equities analysts forecast that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Monday, March 10th. AdvanSix’s payout ratio is currently 39.75%.

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.