Thompson Siegel & Walmsley LLC Trims Stake in AdvanSix Inc. (NYSE:ASIX)

Thompson Siegel & Walmsley LLC lowered its holdings in AdvanSix Inc. (NYSE:ASIX) by 17.1% in the third quarter, Holdings Channel.com reports. The firm owned 237,582 shares of the company’s stock after selling 48,882 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in AdvanSix were worth $7,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ASIX. Copeland Capital Management LLC acquired a new stake in AdvanSix during the 3rd quarter valued at approximately $41,000. Point72 DIFC Ltd bought a new position in AdvanSix during the 2nd quarter worth $34,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix during the second quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AdvanSix in the 2nd quarter worth approximately $51,000. Finally, Allspring Global Investments Holdings LLC bought a new position in AdvanSix in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ASIX. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler lifted their target price on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Price Performance

NYSE:ASIX opened at $31.16 on Friday. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $32.04. The company has a market capitalization of $832.91 million, a price-to-earnings ratio of 22.10 and a beta of 1.69. The company has a 50-day moving average of $29.73 and a 200-day moving average of $26.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.05%. AdvanSix’s dividend payout ratio is 45.39%.

Insiders Place Their Bets

In related news, insider Christopher Gramm sold 2,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the transaction, the chief executive officer now owns 517,795 shares in the company, valued at approximately $15,725,434.15. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,418 shares of company stock valued at $411,626. 5.60% of the stock is currently owned by corporate insiders.

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.