AdvanSix (NYSE:ASIX) Sets New 52-Week Low - What's Next?

Key Points

• AdvanSix's stock reached a new 52-week low of $17.97 before closing at $18.98 amid increased trading volume.
• The company announced a quarterly dividend of $0.16 per share, reflecting an annualized yield of 3.4%, with the payout ratio currently at 22.54%.
• Institutional investors own 86.39% of AdvanSix's stock, with significant recent stakes being acquired by multiple hedge funds.

AdvanSix (NYSE:ASIX - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.97 and last traded at $18.98, with a volume of 63441 shares changing hands. The stock had previously closed at $18.13.

Analyst Ratings Changes

ASIX has been the subject of several research reports. Piper Sandler set a $32.00 price target on AdvanSix in a report on Monday, May 19th. Wall Street Zen downgraded AdvanSix from a "buy" rating to a "hold" rating in a research note on Sunday.

AdvanSix Stock Up 4.5%

The company has a market cap of $508.62 million, a P/E ratio of 6.67 and a beta of 1.60. The firm's 50 day moving average price is $22.71 and its two-hundred day moving average price is $23.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.66 and a current ratio of 1.35.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 12th. AdvanSix's payout ratio is currently 22.54%.

Institutional Trading of AdvanSix

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in AdvanSix by 149.5% in the 1st quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock valued at $45,000 after acquiring an additional 1,178 shares during the period. Farther Finance Advisors LLC raised its position in shares of AdvanSix by 1,195.9% in the second quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company's stock valued at $74,000 after purchasing an additional 2,882 shares during the period. AlphaQuest LLC raised its position in shares of AdvanSix by 22.3% in the first quarter. AlphaQuest LLC now owns 4,014 shares of the company's stock valued at $91,000 after purchasing an additional 731 shares during the period. Quantbot Technologies LP grew its stake in AdvanSix by 33.2% in the 1st quarter. Quantbot Technologies LP now owns 4,096 shares of the company's stock valued at $93,000 after buying an additional 1,022 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of AdvanSix during the 4th quarter valued at $156,000. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Company Profile

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.

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