Brandywine Global Investment Management LLC Purchases 10,660 Shares of AdvanSix Inc. (NYSE:ASIX)

Brandywine Global Investment Management LLC raised its holdings in AdvanSix Inc. (NYSE:ASIX) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,750 shares of the company’s stock after buying an additional 10,660 shares during the quarter. Brandywine Global Investment Management LLC owned 0.34% of AdvanSix worth $2,585,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ASIX. Arrowstreet Capital Limited Partnership boosted its position in shares of AdvanSix by 441.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company’s stock valued at $6,248,000 after acquiring an additional 178,843 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in AdvanSix by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 110,289 shares of the company’s stock worth $3,142,000 after purchasing an additional 5,705 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in AdvanSix during the fourth quarter valued at approximately $237,000. Segall Bryant & Hamill LLC grew its stake in shares of AdvanSix by 299.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 50,601 shares of the company’s stock valued at $1,442,000 after purchasing an additional 37,940 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of AdvanSix by 90.2% in the 4th quarter. Prudential Financial Inc. now owns 402,250 shares of the company’s stock worth $11,460,000 after buying an additional 190,727 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Trading Up 0.4 %

ASIX stock opened at $22.52 on Thursday. The business has a fifty day moving average price of $27.30 and a 200 day moving average price of $29.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. AdvanSix Inc. has a fifty-two week low of $20.86 and a fifty-two week high of $33.00. The stock has a market capitalization of $602.27 million, a price-to-earnings ratio of 13.99 and a beta of 1.73.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.40. The company had revenue of $329.06 million during 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%. Analysts expect that AdvanSix Inc. will post 4 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.16 per share. The ex-dividend date was Monday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 2.84%. AdvanSix’s dividend payout ratio (DPR) is currently 39.75%.

Insider Activity at AdvanSix

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of AdvanSix 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 in the company, valued at $808,713.12. This trade represents a 9.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $30.19, for a total value of $150,950.00. Following the sale, the chief executive officer now directly owns 502,795 shares of the company’s stock, valued at $15,179,381.05. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ASIX. UBS Group set a $35.00 price target on AdvanSix in a research note on Tuesday, March 18th. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Piper Sandler cut their price target on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th.

About AdvanSix

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.