Principal Financial Group Inc. Has $3.82 Million Stock Position in AdvanSix Inc. (NYSE:ASIX)

Principal Financial Group Inc. lessened its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,852 shares of the company’s stock after selling 14,642 shares during the period. Principal Financial Group Inc. owned 0.47% of AdvanSix worth $3,823,000 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. SummerHaven Investment Management LLC lifted its holdings in shares of AdvanSix by 3.4% in the second quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock worth $468,000 after acquiring an additional 672 shares during the last quarter. Copeland Capital Management LLC acquired a new position in AdvanSix during the third quarter worth $41,000. Point72 DIFC Ltd purchased a new stake in shares of AdvanSix in the second quarter worth approximately $34,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix during the second quarter valued at about $36,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in AdvanSix by 8.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock worth $694,000 after purchasing an additional 1,904 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Insider Buying and Selling at AdvanSix

In other news, Director Donald P. Newman bought 5,030 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $29.64 per share, with a total value of $149,089.20. Following the transaction, the director now directly owns 5,030 shares in the company, valued at approximately $149,089.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the company’s 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 owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,418 shares of company stock worth $411,626 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ASIX shares. Piper Sandler raised their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday.

AdvanSix Stock Up 4.2 %

ASIX stock opened at $31.16 on Friday. The business has a fifty day moving average price of $29.73 and a 200-day moving average price of $26.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a market capitalization of $832.91 million, a P/E ratio of 21.98 and a beta of 1.69. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $32.04.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.16 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.05%. AdvanSix’s dividend payout ratio is currently 45.39%.

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.