Sheets Smith Wealth Management Has $449,000 Stock Position in AdvanSix Inc. (NYSE:ASIX)

Sheets Smith Wealth Management grew its position in AdvanSix Inc. (NYSE:ASIX) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,772 shares of the company’s stock after purchasing an additional 569 shares during the period. Sheets Smith Wealth Management owned about 0.06% of AdvanSix worth $449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Oliver Luxxe Assets LLC acquired a new position in AdvanSix in the fourth quarter worth approximately $1,403,000. JPMorgan Chase & Co. increased its stake in shares of AdvanSix by 14.6% during the 3rd 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 during the last quarter. Barclays PLC raised its holdings in shares of AdvanSix by 319.2% during the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after purchasing an additional 32,706 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of AdvanSix by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock valued at $18,186,000 after purchasing an additional 8,903 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after purchasing an additional 1,396 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ASIX shares. Piper Sandler raised their target price on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Performance

NYSE:ASIX opened at $31.08 on Thursday. The firm has a market capitalization of $830.85 million, a PE ratio of 22.04 and a beta of 1.76. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. AdvanSix Inc. has a 1 year low of $20.86 and a 1 year high of $33.00. The firm’s fifty day simple moving average is $29.97 and its 200 day simple moving average is $29.01.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.06%. AdvanSix’s payout ratio is presently 45.39%.

Insider Buying and Selling

In related news, insider Christopher Gramm sold 2,435 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the completion of the sale, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,749 shares of company stock valued at $444,205. Insiders own 5.60% of the company’s stock.

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.