Principal Financial Group Inc. Sells 14,642 Shares of AdvanSix Inc. (NYSE:ASIX)

Principal Financial Group Inc. reduced its position in shares of AdvanSix Inc. (NYSE:ASIX) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,852 shares of the company’s stock after selling 14,642 shares during the period. Principal Financial Group Inc.’s holdings in AdvanSix were worth $3,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASIX. Meritage Portfolio Management boosted its holdings in AdvanSix by 9.1% during the third quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock valued at $317,000 after acquiring an additional 871 shares during the period. Copeland Capital Management LLC acquired a new position in shares of AdvanSix during the 3rd quarter worth about $41,000. Public Employees Retirement System of Ohio boosted its stake in AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after purchasing an additional 1,396 shares during the period. Point72 DIFC Ltd bought a new stake in AdvanSix during the 2nd quarter valued at approximately $34,000. Finally, Acadian Asset Management LLC acquired a new stake in AdvanSix in the 2nd quarter valued at approximately $36,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

AdvanSix Trading Down 2.9 %

AdvanSix stock opened at $27.65 on Friday. The business has a 50 day moving average price of $30.10 and a two-hundred day moving average price of $28.31. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. AdvanSix Inc. has a 12 month low of $20.86 and a 12 month high of $33.00. The stock has a market cap of $739.11 million, a price-to-earnings ratio of 19.61 and a beta of 1.73.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.31%. AdvanSix’s dividend payout ratio (DPR) is currently 45.39%.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares in the company, valued at $15,725,434.15. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the transaction, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,749 shares of company stock valued at $303,455 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler increased 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 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.