AdvanSix Inc. (NYSE:ASIX) Stake Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,977 shares of the company’s stock after selling 1,287 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of AdvanSix worth $637,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in AdvanSix in the 2nd quarter worth approximately $34,000. Acadian Asset Management LLC bought a new position in AdvanSix in the 2nd quarter worth approximately $36,000. Copeland Capital Management LLC bought a new position in AdvanSix in the 3rd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC bought a new position in AdvanSix in the 2nd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AdvanSix in the 2nd quarter worth approximately $51,000. 86.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Donald P. Newman acquired 5,030 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $29.64 per share, for a total transaction of $149,089.20. Following the transaction, the director now owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Gramm sold 1,951 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. This trade represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock worth $474,058 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler increased their price objective on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday.

AdvanSix Stock Performance

ASIX opened at $32.16 on Thursday. The company has a market capitalization of $859.67 million, a price-to-earnings ratio of 22.81 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. AdvanSix Inc. has a 1-year low of $20.86 and a 1-year high of $33.00. The business has a 50 day moving average price of $30.47 and a two-hundred day moving average price of $27.46.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 1.99%. 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.