Charles Schwab Investment Management Inc. Lowers Stock Position in AdvanSix Inc. (NYSE:ASIX)

Charles Schwab Investment Management Inc. cut its holdings in shares of AdvanSix Inc. (NYSE:ASIX) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 318,813 shares of the company’s stock after selling 59,343 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.19% of AdvanSix worth $9,083,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Inspire Investing LLC raised its stake in shares of AdvanSix by 2.5% during the fourth quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock worth $445,000 after acquiring an additional 387 shares in the last quarter. Sheets Smith Wealth Management raised its stake in shares of AdvanSix by 3.7% during the fourth quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock worth $449,000 after acquiring an additional 569 shares in the last quarter. Nilsine Partners LLC raised its stake in shares of AdvanSix by 3.1% during the fourth quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock worth $606,000 after acquiring an additional 650 shares in the last quarter. Rhumbline Advisers raised its stake in shares of AdvanSix by 1.4% during the fourth quarter. Rhumbline Advisers now owns 84,984 shares of the company’s stock worth $2,421,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Meritage Portfolio Management raised its stake in shares of AdvanSix by 12.5% during the fourth quarter. Meritage Portfolio Management now owns 11,730 shares of the company’s stock worth $334,000 after acquiring an additional 1,301 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group set a $35.00 price target on shares of AdvanSix in a research note on Tuesday. StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler cut their target price 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.

Insider Activity at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total value of $150,950.00. Following the sale, the chief executive officer now owns 502,795 shares in the company, valued at $15,179,381.05. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by company insiders.

AdvanSix Stock Down 1.4 %

Shares of AdvanSix stock opened at $22.99 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00. The stock has a market capitalization of $614.84 million, a price-to-earnings ratio of 14.28 and a beta of 1.73. The company’s 50 day moving average price is $28.60 and its 200-day moving average price is $29.26.

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

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, March 10th. AdvanSix’s dividend payout ratio (DPR) is currently 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.