Empowered Funds LLC Increases Stock Holdings in AdvanSix Inc. (NYSE:ASIX)

Empowered Funds LLC grew its holdings in shares of AdvanSix Inc. (NYSE:ASIX) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,452 shares of the company’s stock after purchasing an additional 7,638 shares during the quarter. Empowered Funds LLC’s holdings in AdvanSix were worth $4,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in AdvanSix by 3.4% during the second quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock valued at $468,000 after buying an additional 672 shares during the last quarter. Meritage Portfolio Management increased its stake in shares of AdvanSix by 9.1% in the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock worth $317,000 after purchasing an additional 871 shares in the last quarter. Copeland Capital Management LLC bought a new position in AdvanSix in the 3rd quarter worth $41,000. Point72 DIFC Ltd purchased a new position in AdvanSix during the second quarter valued at $34,000. Finally, Acadian Asset Management LLC bought a new stake in AdvanSix during the second quarter valued at about $36,000. Institutional investors own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ASIX. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Piper Sandler lifted their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

AdvanSix Price Performance

Shares of AdvanSix stock opened at $29.65 on Monday. The company has a market capitalization of $792.54 million, a price-to-earnings ratio of 21.03 and a beta of 1.69. 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 stock’s 50-day simple moving average is $29.60 and its 200-day simple moving average is $26.83. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $32.04.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.16%. AdvanSix’s payout ratio is 45.39%.

Insider Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the sale, the insider now directly owns 43,463 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $30.37, for a total value of $151,850.00. Following the transaction, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,418 shares of company stock valued at $411,626 in the last three months. 5.60% of the stock is currently owned by corporate insiders.

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.