Teacher Retirement System of Texas Acquires Shares of 38,301 AdvanSix Inc. (NYSE:ASIX)

Teacher Retirement System of Texas bought a new position in shares of AdvanSix Inc. (NYSE:ASIX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,301 shares of the company’s stock, valued at approximately $1,091,000. Teacher Retirement System of Texas owned approximately 0.14% of AdvanSix at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ASIX. AlphaQuest LLC purchased a new stake in AdvanSix during the fourth quarter worth about $94,000. Quantbot Technologies LP boosted its stake in shares of AdvanSix by 618.5% during the 3rd quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock worth $132,000 after acquiring an additional 3,754 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of AdvanSix by 29.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after acquiring an additional 1,396 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of AdvanSix in the 3rd quarter worth approximately $204,000. Finally, Foundations Investment Advisors LLC acquired a new position in AdvanSix during the fourth quarter worth $223,000. 86.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.15, for a total transaction of $140,750.00. Following the completion of the transaction, the chief executive officer now owns 507,795 shares of the company’s stock, valued at $14,294,429.25. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group set a $35.00 target price on AdvanSix in a report on Tuesday, March 18th. StockNews.com downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Piper Sandler reduced their price target on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th.

AdvanSix Stock Down 2.1 %

Shares of NYSE:ASIX opened at $22.57 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $603.61 million, a P/E ratio of 14.02 and a beta of 1.73. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00. The stock’s fifty day simple moving average is $27.84 and its 200-day simple moving average is $29.10.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.40. The company had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. As a group, equities research analysts forecast that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 2.84%. AdvanSix’s dividend payout ratio (DPR) is presently 39.75%.

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.