Empowered Funds LLC Boosts Stock Position in AdvanSix Inc. (NYSE:ASIX)

Empowered Funds LLC boosted its holdings in shares of AdvanSix Inc. (NYSE:ASIX) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,452 shares of the company’s stock after purchasing an additional 7,638 shares during the period. Empowered Funds LLC owned about 0.56% of AdvanSix worth $4,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASIX. Russell Investments Group Ltd. lifted its position in shares of AdvanSix by 227.0% in the 1st quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock worth $4,309,000 after purchasing an additional 104,587 shares during the period. Boston Partners purchased a new stake in AdvanSix in the first quarter worth about $702,000. First Eagle Investment Management LLC boosted its position in AdvanSix by 33.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after acquiring an additional 151,470 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of AdvanSix by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock worth $13,611,000 after acquiring an additional 30,500 shares during the period. Finally, Deprince Race & Zollo Inc. raised its position in shares of AdvanSix by 45.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock worth $5,955,000 after acquiring an additional 80,915 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the transaction, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. This represents a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,418 shares of company stock valued at $411,626. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ASIX shares. Piper Sandler upped their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, November 11th.

AdvanSix Price Performance

ASIX stock opened at $29.65 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a 50 day moving average price of $29.60 and a 200-day moving average price of $26.83. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $32.04. The firm has a market capitalization of $792.54 million, a price-to-earnings ratio of 21.03 and a beta of 1.69.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is 45.39%.

About AdvanSix

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.