Franklin Resources Inc. Cuts Position in AdvanSix Inc. (NYSE:ASIX)

Franklin Resources Inc. lessened its position in AdvanSix Inc. (NYSE:ASIX) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,993 shares of the company’s stock after selling 499 shares during the quarter. Franklin Resources Inc. owned 0.09% of AdvanSix worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of AdvanSix by 48.6% in the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after acquiring an additional 153,686 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of AdvanSix by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after purchasing an additional 30,500 shares during the last quarter. First Eagle Investment Management LLC raised its position in 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 during the period. Point72 DIFC Ltd bought a new stake in AdvanSix in the second quarter worth $34,000. Finally, Deprince Race & Zollo Inc. boosted its position in AdvanSix by 45.2% during the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after buying an additional 80,915 shares during the period. Institutional investors own 86.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Christopher Gramm sold 1,951 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Donald P. Newman acquired 5,030 shares of AdvanSix stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $29.64 per share, for a total transaction of $149,089.20. Following the completion of the transaction, the director now owns 5,030 shares in the company, valued at approximately $149,089.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 15,369 shares of company stock valued at $474,058 over the last ninety days. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ASIX shares. Piper Sandler raised their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Trading Down 1.3 %

Shares of ASIX opened at $28.16 on Monday. The stock has a market capitalization of $752.74 million, a P/E ratio of 19.97 and a beta of 1.73. AdvanSix Inc. has a twelve month low of $20.86 and a twelve month high of $33.00. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $30.18 and a two-hundred day simple moving average of $28.24.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.27%. 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.