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Barclays PLC lifted its position in shares of AdvanSix Inc. ( NYSE:ASIX – Free Report ) by 319.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,952 shares of the company’s stock after purchasing an additional 32,706 shares during the period. Barclays PLC owned 0.16% of AdvanSix worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission. Several other hedge funds have also added to or reduced their stakes in ASIX. Bank of New York Mellon Corp raised its stake in AdvanSix by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company’s stock worth $8,237,000 after purchasing an additional 7,925 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of AdvanSix during the second quarter worth approximately $51,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix during the second quarter worth approximately $36,000. Texas Permanent School Fund Corp raised its position in shares of AdvanSix by 19.4% in the second quarter. Texas Permanent School Fund Corp now owns 27,990 shares of the company’s stock valued at $642,000 after buying an additional 4,556 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of AdvanSix by 5.4% in the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after buying an additional 30,500 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds. Analysts Set New Price Targets Several equities analysts have weighed in on ASIX shares. Piper Sandler lifted their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. AdvanSix Price Performance ASIX stock opened at $28.16 on Friday. The company has a market capitalization of $752.74 million, a P/E ratio of 19.97 and a beta of 1.73. The company has a fifty day moving average price of $30.18 and a 200-day moving average price of $28.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00. AdvanSix Announces Dividend The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%. Insiders Place Their Bets In other news, Director Donald P. Newman purchased 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now owns 5,030 shares of the company’s stock, valued at $149,089.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website . Also, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the transaction, the chief executive officer now directly owns 522,795 shares of the company’s stock, valued at approximately $15,830,232.60. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last three months, insiders have sold 15,369 shares of company stock valued at $474,058. 5.60% of the stock is currently owned by company insiders. About AdvanSix ( Free Report ) 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. See Also Five stocks we like better than AdvanSix What is a Death Cross in Stocks? Buffett Takes the Bait; Berkshire Buys More Oxy in December Do Real Estate Investment Trusts Deserve a Place in Your Portfolio? Top 3 ETFs to Hedge Against Inflation in 2025 Stock Trading Terms – Stock Terms Every Investor Needs to Know These 3 Chip Stock Kings Are Still Buys for 2025 Receive News & Ratings for AdvanSix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AdvanSix and related companies with MarketBeat.com's FREE daily email newsletter .
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Maharashtra election results set stage for Dharavi redevelopmentThe proposed legislation to restrict the age limit for social media use is destined to fail and may harbour another insidious purpose, writes Dr Binoy Kampmark . THE AUSTRALIAN GOVERNMENT is being run ragged in various quarters. When ragged, such a beast is bound to seek a distraction. And what better than finding a vulnerable group, preferably children, to feel outraged and noble about? The Albanese Government is confident of restricting the use of social media by children across the country by imposing an age limit. It is armed with such problematic instruments as South Australia’s Children (Social Media Safety) Bill 2024 , which will fine social media companies refusing to exclude children under the age of 14 from using their platforms, and a report by former High Court Chief Justice Robert French on the feasibility of such a move. On 21 November, the Government boastfully declared in a media release that it had officially ‘introduced world-leading legislation to enforce a minimum age of 16 years for social media’ . The proposed legislation, known as the Online Safety Amendment (Social Media Minimum Age) Bill 2024 , is supposedly going to ‘deliver greater protections for young Australians during critical stages of their development’ . Government bans social media fearing rise of 'Generation Left' The recent announcement of age restrictions for social media use raises questions regarding the Government's true motives. The proposed legislation made something of an international splash. NBC News , for instance, called the bill ‘one of the toughest in the world’ , failing to note its absence of muscle. To that end, it remains thin on detail. These laws constitute yet another effort to concentrate power and responsibilities best held by the citizenry in the hands of a bureaucratic-political class governed by paranoia and procedure. They are also intended to place the onus on social media platforms to place restrictions upon those under 16 years of age from having accounts. The Government openly admits as much, seemingly treating parents as irresponsible and weak (their consent in this is irrelevant), and children as permanently threatened by spoliation. The media release states: ‘The law places the onus on social media platforms – not parents or young people – to take reasonable steps to ensure these protections are in place.’ If the platforms do not comply, they risk fines of up to $49.5 million. As for the contentious matter of privacy, the Prime Minister and his Communications Minister are adamant: ‘It will contain robust privacy provisions, including requiring the platforms to ringfence and destroy any information collected to safeguard the personal information of all Australians.’ The drafters of the bill have also taken liberties on what is deemed appropriate to access. As the media release mentions, Australia’s youth will still ‘have continued access to messaging and online gaming, as well as access to services which are health and education related, like Headspace, Kids Helpline, and Google Classroom, and YouTube.’ This daft regime is based on the premise it will survive circumvention. Children, through guile and instinctive perseverance, will always find a way to access forbidden fruit. Indeed, as the Digital Industry Group Inc ( DIGI ) says , this “20th-century response to 21st-century challenges” may well steer children into “dangerous, unregulated parts of the internet” . In May, documents uncovered under Freedom of Information by Guardian Australia identified that government wonks in the Communications Department were wondering if such a scheme was even viable. A document casting a sceptical eye over the use of age assurance technology was unequivocal: ‘No countries have implemented an age verification mandate without issue.’ Legal challenges have been launched in France and Germany against such measures. Circumvention has become a feature in various U.S. states doing the same, using Virtual Private Networks ( VPN s). While this proposed legislation will prove ineffectual in achieving its intended purpose – here, protecting the prelapsarian state of childhood from ruin at the hands of wicked digital platforms – it will also leave the apparatus of hefty regulation. One can hardly take remarks coming from the absurdly named office of the eSafety Commissioner , currently occupied by the authoritarian-minded Julie Inman Grant , seriously in stating that “regulators like eSafety have to be nimble” . Restrictions, prohibitions, bans and censorship regimes are, in their implementation, never nimble. Albanese's move to protect kids from social media 'problematic' Anthony Albanese's pledge to enforce age limits for the use of social media is a pointless endeavour that will create more problems than solving them. For all that, even Inman Grant has reservations about some of the Government’s assumptions, notably on the alleged link between social media and mental harm. The evidence for such a claim, she told BBC Radio 5 Live, “is not settled at all” . Indeed, certain vulnerable groups – she mentions LGBTQ+ and First Nations cohorts in particular – “feel more themselves online than they do in the real world” . Why not, Inman Grant suggests, teach children to use online platforms more safely? Children, she analogises, should be taught how to swim, rather than being banned from swimming itself. Instruct the young to swim; don’t ringfence the sea. Rather appositely, Lucas Lane – at 15, something of an entrepreneur selling boys nail polish via the online business Glossy Boys – told the BBC that the proposed ban “destroys... my friendships and the ability to make people feel seen”. Already holed without even getting out of port, this bill will serve another insidious purpose. While easily dismissed as having a stunted moral conscience, Elon Musk , who owns X Corp , is hard to fault for having certain suspicions about these draft rules. ‘Seems like a backdoor way to control access to the internet by all Australians,’ he wrote to a post from Prime Minister Albanese. One, unfortunately, among several. Seems like a backdoor way to control access to the Internet by all Australians https://t.co/694yCzWOaB — Elon Musk (@elonmusk) November 21, 2024 Dr Binoy Kampmark is a Cambridge Scholar and lecturer at RMIT University . You can follow Dr Kampmark on Twitter @BKampmark . This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License Support independent journalism Subscribe to IA. 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