Congress Wealth Management LLC DE Sells 30,982 Shares of AdvanSix Inc. (NYSE:ASIX)

Congress Wealth Management LLC DE lessened its stake in AdvanSix Inc. (NYSE:ASIX) by 69.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,673 shares of the company’s stock after selling 30,982 shares during the period. Congress Wealth Management LLC DE owned about 0.05% of AdvanSix worth $390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ASIX. Wellington Management Group LLP lifted its holdings in AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after buying an additional 153,686 shares during the period. Oliver Luxxe Assets LLC acquired a new position in shares of AdvanSix in the 4th quarter valued at about $1,403,000. Barclays PLC grew its stake in AdvanSix by 319.2% during the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after purchasing an additional 32,706 shares during the period. JPMorgan Chase & Co. increased its holdings in AdvanSix by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock worth $3,177,000 after purchasing an additional 13,316 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in AdvanSix by 162.8% in the third quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock valued at $1,565,000 after buying an additional 31,915 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ASIX. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Piper Sandler decreased their price target on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, UBS Group set a $35.00 price objective on shares of AdvanSix in a research report on Tuesday, March 18th.

AdvanSix Stock Performance

Shares of ASIX stock opened at $22.57 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $27.84 and a two-hundred day simple moving average of $29.10. AdvanSix Inc. has a 12 month low of $20.86 and a 12 month high of $33.00. The firm has a market capitalization of $603.61 million, a PE ratio of 14.02 and a beta of 1.73.

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

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 2.84%. AdvanSix’s dividend payout ratio (DPR) is currently 39.75%.

Insider Activity at AdvanSix

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $30.19, for a total value of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares of the company’s stock, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by 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.