AdvanSix Inc. (ASIX) Shares Sold by Royal Bank of Canada
Royal Bank of Canada reduced its holdings in AdvanSix Inc. (NYSE:ASIX) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,694 shares of the company’s stock after selling 2,348 shares during the period. Royal Bank of Canada’s holdings in AdvanSix were worth $334,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ASIX. BlackRock Inc. grew its holdings in AdvanSix by 27.9% in the second quarter. BlackRock Inc. now owns 4,055,127 shares of the company’s stock valued at $126,680,000 after purchasing an additional 884,435 shares during the period. Teachers Advisors LLC grew its holdings in AdvanSix by 922.2% in the second quarter. Teachers Advisors LLC now owns 308,758 shares of the company’s stock valued at $9,646,000 after purchasing an additional 278,553 shares during the period. Spark Investment Management LLC grew its holdings in AdvanSix by 261.0% in the second quarter. Spark Investment Management LLC now owns 357,000 shares of the company’s stock valued at $11,152,000 after purchasing an additional 258,100 shares during the period. Vanguard Group Inc. grew its holdings in AdvanSix by 16.1% in the second quarter. Vanguard Group Inc. now owns 1,806,649 shares of the company’s stock valued at $56,440,000 after purchasing an additional 250,688 shares during the period. Finally, Northern Trust Corp grew its holdings in AdvanSix by 126.4% in the second quarter. Northern Trust Corp now owns 382,623 shares of the company’s stock valued at $11,953,000 after purchasing an additional 213,652 shares during the period. 71.99% of the stock is currently owned by institutional investors.
AdvanSix Inc. (NYSE:ASIX) opened at $42.79 on Friday. The firm has a market capitalization of $1,300.00 and a P/E ratio of 25.61. AdvanSix Inc. has a 1 year low of $16.50 and a 1 year high of $46.51. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.39 and a quick ratio of 0.93.
Several brokerages have commented on ASIX. BidaskClub raised AdvanSix from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 23rd. Zacks Investment Research raised AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, September 12th. Finally, Cowen and Company raised their price objective on AdvanSix from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 6th.
In other news, Director Michael Marberry bought 539 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were acquired at an average price of $46.41 per share, for a total transaction of $25,014.99. Following the completion of the transaction, the director now directly owns 16,420 shares in the company, valued at approximately $762,052.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 1,946 shares of company stock worth $74,948. Company insiders own 2.70% of the company’s stock.
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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