Public Employees Retirement System of Ohio Grows Stake in AdvanSix Inc. (NYSE:ASIX)

Public Employees Retirement System of Ohio increased its position in AdvanSix Inc. (NYSE:ASIX) by 29.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,067 shares of the company’s stock after acquiring an additional 1,396 shares during the period. Public Employees Retirement System of Ohio’s holdings in AdvanSix were worth $184,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. 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 4.30 % 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 15,369 shares of company stock worth $474,058 in the last three months. 5.60% of the stock is owned by company insiders.

AdvanSix Price Performance

Shares of AdvanSix stock opened at $28.05 on Friday. The company has a market capitalization of $749.80 million, a price-to-earnings ratio of 19.89 and a beta of 1.73. 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 $30.39 and its 200-day simple moving average is $28.06. AdvanSix Inc. has a 52 week low of $20.86 and a 52 week high of $33.00.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.28%. AdvanSix’s dividend payout ratio is presently 45.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. 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.

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.