AdvanSix Inc (ASIX) Position Cut by Highbridge Capital Management LLC
Highbridge Capital Management LLC trimmed its position in AdvanSix Inc (NYSE:ASIX) by 68.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,582 shares of the company’s stock after selling 14,187 shares during the quarter. Highbridge Capital Management LLC’s holdings in AdvanSix were worth $262,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in AdvanSix by 117.2% in the second quarter. Russell Investments Group Ltd. now owns 147,395 shares of the company’s stock valued at $4,605,000 after buying an additional 79,529 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in AdvanSix by 3.9% in the second quarter. Great West Life Assurance Co. Can now owns 45,170 shares of the company’s stock valued at $1,409,000 after buying an additional 1,699 shares in the last quarter. Texas Permanent School Fund acquired a new stake in AdvanSix in the second quarter valued at approximately $694,000. Sei Investments Co. boosted its position in AdvanSix by 69.4% in the second quarter. Sei Investments Co. now owns 15,836 shares of the company’s stock valued at $494,000 after buying an additional 6,490 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in AdvanSix by 127.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 179,836 shares of the company’s stock valued at $5,619,000 after buying an additional 100,842 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of AdvanSix from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. ValuEngine lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub lowered shares of AdvanSix from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Cowen raised their target price on shares of AdvanSix from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 6th.
In other AdvanSix news, Director Michael Marberry purchased 539 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were bought at an average price of $46.41 per share, for a total transaction of $25,014.99. Following the completion of the acquisition, the director now owns 16,420 shares in the company, valued at $762,052.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 2,366 shares of company stock worth $99,944. 2.70% of the stock is owned by company insiders.
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AdvanSix Company Profile
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
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