Victory Capital Management Inc. Cuts Stake in AdvanSix $ASIX

Victory Capital Management Inc. lessened its holdings in shares of AdvanSix (NYSE:ASIX) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,178,472 shares of the company’s stock after selling 257,867 shares during the quarter. Victory Capital Management Inc. owned about 8.11% of AdvanSix worth $42,219,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in AdvanSix by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock valued at $38,566,000 after buying an additional 10,642 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of AdvanSix by 9.3% in the third quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock worth $18,752,000 after buying an additional 81,927 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AdvanSix by 1.9% during the second quarter. Geode Capital Management LLC now owns 632,512 shares of the company’s stock worth $15,023,000 after acquiring an additional 11,880 shares during the last quarter. LSV Asset Management grew its stake in AdvanSix by 4.7% during the second quarter. LSV Asset Management now owns 629,706 shares of the company’s stock valued at $14,956,000 after acquiring an additional 28,459 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in AdvanSix by 165.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock valued at $9,828,000 after acquiring an additional 257,789 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Price Performance

ASIX opened at $19.70 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $17.83 and a 200 day moving average of $18.23. AdvanSix has a 52-week low of $14.10 and a 52-week high of $26.85. The stock has a market cap of $529.34 million, a P/E ratio of 10.88 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $359.95 million for the quarter, compared to analyst estimates of $340.85 million. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. As a group, sell-side analysts anticipate that AdvanSix will post 4 EPS for the current year.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, March 9th. AdvanSix’s dividend payout ratio is presently 35.36%.

Analyst Upgrades and Downgrades

ASIX has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Truist Financial increased their price target on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen upgraded AdvanSix from a “hold” rating to a “buy” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

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.