Victory Capital Management Inc. Lowers Stock Position in AdvanSix $ASIX

Victory Capital Management Inc. trimmed its holdings in shares of AdvanSix (NYSE:ASIX) by 10.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,178,472 shares of the company’s stock after selling 257,867 shares during the quarter. Victory Capital Management Inc. owned 0.08% of AdvanSix worth $42,219,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ASIX. Arrowstreet Capital Limited Partnership lifted its holdings in AdvanSix by 165.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock worth $9,828,000 after buying an additional 257,789 shares during the period. Bank of America Corp DE raised its position in shares of AdvanSix by 133.4% in the 2nd quarter. Bank of America Corp DE now owns 238,874 shares of the company’s stock worth $5,673,000 after acquiring an additional 136,523 shares in the last quarter. CenterBook Partners LP bought a new position in shares of AdvanSix in the 2nd quarter worth $2,967,000. Lazard Asset Management LLC lifted its stake in shares of AdvanSix by 1,569.5% during the 2nd quarter. Lazard Asset Management LLC now owns 112,741 shares of the company’s stock worth $2,677,000 after purchasing an additional 105,988 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of AdvanSix by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock worth $18,752,000 after purchasing an additional 81,927 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

AdvanSix Trading Down 4.6%

NYSE:ASIX opened at $19.70 on Friday. The company has a market capitalization of $529.34 million, a P/E ratio of 10.88 and a beta of 1.66. The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. AdvanSix has a 12 month low of $14.10 and a 12 month high of $26.85. The firm has a fifty day simple moving average of $17.83 and a 200-day simple moving average of $18.23.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%.The firm had revenue of $359.95 million for the quarter, compared to the consensus estimate of $340.85 million. On average, equities research analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. AdvanSix’s dividend payout ratio is currently 35.36%.

Analyst Upgrades and Downgrades

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

AdvanSix Profile

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.