Pinebridge Investments L.P. boosted its stake in AdvanSix Inc (NYSE:ASIX) by 622.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,592 shares of the company’s stock after buying an additional 28,083 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.11% of AdvanSix worth $1,296,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ASIX. BlackRock Inc. raised its holdings in shares of AdvanSix by 27.9% during the 2nd 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 in the last quarter. Teachers Advisors LLC raised its holdings in shares of AdvanSix by 922.2% during the 2nd 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of AdvanSix by 16.1% during the 2nd 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 in the last quarter. Northern Trust Corp raised its holdings in shares of AdvanSix by 126.4% during the 2nd 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 in the last quarter. Finally, State Street Corp raised its holdings in shares of AdvanSix by 41.2% during the 2nd quarter. State Street Corp now owns 717,873 shares of the company’s stock valued at $22,427,000 after purchasing an additional 209,636 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of AdvanSix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. BidaskClub downgraded shares of AdvanSix from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. ValuEngine downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Cowen lifted their target price on shares of AdvanSix from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, September 6th.
In other news, Director Michael Marberry bought 539 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were purchased at an average price of $46.41 per share, for a total transaction of $25,014.99. Following the acquisition, the director now directly owns 16,420 shares of the company’s stock, valued at approximately $762,052.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 1,741 shares of company stock worth $74,944 in the last quarter. Insiders own 2.70% of the company’s stock.
AdvanSix Inc (NYSE:ASIX) opened at $40.21 on Friday. The company has a market cap of $1,228.77, a price-to-earnings ratio of 24.14 and a beta of 2.84. AdvanSix Inc has a twelve month low of $19.62 and a twelve month high of $46.51. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.84.
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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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