Healthcare of Ontario Pension Plan Trust Fund reduced its stake in AdvanSix (NYSE:ASIX – Free Report) by 49.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,872 shares of the company’s stock after selling 53,839 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AdvanSix were worth $1,363,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ASIX. Osaic Holdings Inc. increased its position in AdvanSix by 60.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after buying an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AdvanSix by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after acquiring an additional 604 shares in the last quarter. Sheets Smith Wealth Management grew its stake in shares of AdvanSix by 3.8% in the fourth quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock worth $309,000 after acquiring an additional 659 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AdvanSix by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock worth $234,000 after acquiring an additional 746 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of AdvanSix by 10.2% during the fourth quarter. Mariner LLC now owns 11,065 shares of the company’s stock valued at $191,000 after acquiring an additional 1,023 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.
AdvanSix Stock Down 2.4%
AdvanSix stock opened at $20.10 on Friday. The firm has a market cap of $541.90 million, a price-to-earnings ratio of 54.33 and a beta of 1.30. The stock has a fifty day simple moving average of $20.96 and a two-hundred day simple moving average of $20.74. AdvanSix has a 12 month low of $14.10 and a 12 month high of $26.73. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34.
AdvanSix Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, May 19th. AdvanSix’s dividend payout ratio (DPR) is presently 172.97%.
Analyst Upgrades and Downgrades
ASIX has been the topic of a number of analyst reports. Weiss Ratings cut shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AdvanSix presently has a consensus rating of “Reduce” and a consensus price target of $22.50.
Read Our Latest Report on ASIX
About AdvanSix
AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.
The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.
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