Barclays PLC Purchases 32,706 Shares of AdvanSix Inc. (NYSE:ASIX)

Barclays PLC lifted its position in shares of AdvanSix Inc. (NYSE:ASIX) by 319.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,952 shares of the company’s stock after purchasing an additional 32,706 shares during the period. Barclays PLC owned 0.16% of AdvanSix worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ASIX. Bank of New York Mellon Corp raised its stake in AdvanSix by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company’s stock worth $8,237,000 after purchasing an additional 7,925 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of AdvanSix during the second quarter worth approximately $51,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix during the second quarter worth approximately $36,000. Texas Permanent School Fund Corp raised its position in shares of AdvanSix by 19.4% in the second quarter. Texas Permanent School Fund Corp now owns 27,990 shares of the company’s stock valued at $642,000 after buying an additional 4,556 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of AdvanSix by 5.4% in the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after buying an additional 30,500 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on ASIX shares. Piper Sandler lifted their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Price Performance

ASIX stock opened at $28.16 on Friday. The company has a market capitalization of $752.74 million, a P/E ratio of 19.97 and a beta of 1.73. The company has a fifty day moving average price of $30.18 and a 200-day moving average price of $28.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%.

Insiders Place Their Bets

In other news, Director Donald P. Newman purchased 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now owns 5,030 shares of the company’s stock, valued at $149,089.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the transaction, the chief executive officer now directly owns 522,795 shares of the company’s stock, valued at approximately $15,830,232.60. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,369 shares of company stock valued at $474,058. 5.60% of the stock is currently owned by company insiders.

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.