Cubist Systematic Strategies LLC Cuts Stake in AdvanSix Inc. (NYSE:ASIX)

Cubist Systematic Strategies LLC cut its stake in AdvanSix Inc. (NYSE:ASIX) by 32.7% during the 4th quarter, HoldingsChannel reports. The firm owned 37,609 shares of the company’s stock after selling 18,278 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in AdvanSix were worth $1,071,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. BOKF NA purchased a new position in AdvanSix in the fourth quarter valued at about $217,000. Bridgeway Capital Management LLC raised its position in AdvanSix by 3.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 258,822 shares of the company’s stock valued at $7,374,000 after purchasing an additional 7,670 shares during the period. Bank of America Corp DE raised its position in AdvanSix by 38.0% in the fourth quarter. Bank of America Corp DE now owns 64,760 shares of the company’s stock valued at $1,845,000 after purchasing an additional 17,823 shares during the period. Ameriprise Financial Inc. raised its position in AdvanSix by 0.3% in the fourth quarter. Ameriprise Financial Inc. now owns 135,127 shares of the company’s stock valued at $3,850,000 after purchasing an additional 450 shares during the period. Finally, Northern Trust Corp raised its position in AdvanSix by 12.3% in the fourth quarter. Northern Trust Corp now owns 312,561 shares of the company’s stock valued at $8,905,000 after purchasing an additional 34,236 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Stock Down 1.1%

Shares of NYSE ASIX opened at $23.95 on Wednesday. AdvanSix Inc. has a 1 year low of $18.44 and a 1 year high of $33.00. The firm has a market cap of $642.17 million, a price-to-earnings ratio of 14.88 and a beta of 1.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. The stock’s 50-day simple moving average is $22.10 and its 200-day simple moving average is $27.16.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. The business had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. As a group, equities analysts anticipate that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, May 13th. AdvanSix’s dividend payout ratio is currently 20.51%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASIX. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. UBS Group set a $35.00 target price on AdvanSix in a research report on Tuesday, March 18th. Finally, Piper Sandler lowered AdvanSix from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $26.00 in a research report on Monday, April 7th.

Insider Activity at AdvanSix

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the sale, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at $808,713.12. The trade was a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is owned by corporate insiders.

AdvanSix 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.