Congress Wealth Management LLC DE Sells 30,982 Shares of AdvanSix Inc. (NYSE:ASIX)

Congress Wealth Management LLC DE reduced its stake in shares of AdvanSix Inc. (NYSE:ASIX) by 69.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,673 shares of the company’s stock after selling 30,982 shares during the period. Congress Wealth Management LLC DE’s holdings in AdvanSix were worth $390,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ASIX. AlphaQuest LLC purchased a new stake in AdvanSix during the fourth quarter valued at about $94,000. Quantbot Technologies LP lifted its stake in shares of AdvanSix by 618.5% during the 3rd quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock valued at $132,000 after buying an additional 3,754 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in AdvanSix in the 4th quarter worth approximately $137,000. Public Employees Retirement System of Ohio grew its stake in AdvanSix by 29.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after buying an additional 1,396 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in AdvanSix during the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Insider Activity

In other news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the transaction, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

AdvanSix Price Performance

NYSE:ASIX opened at $22.57 on Friday. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00. The stock has a fifty day moving average of $27.84 and a 200 day moving average of $29.10. 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 firm has a market capitalization of $603.61 million, a price-to-earnings ratio of 14.02 and a beta of 1.73.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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%. On average, research 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, March 10th. AdvanSix’s payout ratio is 39.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ASIX shares. UBS Group set a $35.00 price target on AdvanSix in a research report on Tuesday, March 18th. Piper Sandler decreased their price target on AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Finally, StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

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.