Stifel Financial Corp Cuts Position in AdvanSix Inc. (NYSE:ASIX)

Stifel Financial Corp trimmed its stake in AdvanSix Inc. (NYSE:ASIX) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,182 shares of the company’s stock after selling 996 shares during the period. Stifel Financial Corp owned 0.10% of AdvanSix worth $826,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ASIX. American Century Companies Inc. boosted its stake in 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 acquiring an additional 30,500 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of AdvanSix by 33.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after purchasing an additional 151,470 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of AdvanSix in the 2nd quarter worth $34,000. Deprince Race & Zollo Inc. grew its stake in AdvanSix by 45.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock worth $5,955,000 after buying an additional 80,915 shares during the last quarter. Finally, Millennium Management LLC increased its position in AdvanSix by 83.8% during the 2nd quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock valued at $3,192,000 after buying an additional 63,489 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Donald P. Newman acquired 5,030 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $29.64 per share, with a total value of $149,089.20. Following the acquisition, the director now directly owns 5,030 shares in the company, valued at $149,089.20. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Gramm sold 1,951 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the completion of the sale, the insider now owns 43,463 shares in the company, valued at $1,390,816. The trade was a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ASIX. Piper Sandler raised their price target 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 shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Stock Performance

Shares of ASIX stock opened at $28.44 on Wednesday. The business has a fifty day moving average of $30.33 and a 200 day moving average of $28.12. AdvanSix Inc. has a 1 year low of $20.86 and a 1 year high of $33.00. 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 firm has a market capitalization of $760.23 million, a price-to-earnings ratio of 20.17 and a beta of 1.73.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s payout ratio is 45.39%.

AdvanSix Company 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.