AdvanSix (NYSE:ASIX) to Issue Quarterly Dividend of $0.16

Key Points

• AdvanSix has declared a quarterly dividend of $0.16 per share, with the payment date set for August 26th for stockholders on record by August 12th, resulting in an annualized yield of 3.4%.
• The company maintains a payout ratio of 16.0%, indicating that the dividend is well-covered by earnings.
• Institutional investors and hedge funds have significantly increased their positions in AdvanSix, with 86.39% of the stock now held by such entities.

AdvanSix (NYSE:ASIX - Get Free Report) declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Tuesday, August 12th will be given a dividend of 0.16 per share on Tuesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, August 12th.

AdvanSix has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings.

AdvanSix Stock Performance

AdvanSix stock traded down $0.11 on Friday, reaching $18.29. 26,770 shares of the stock were exchanged, compared to its average volume of 183,516. The firm has a fifty day moving average price of $22.92 and a two-hundred day moving average price of $24.24. AdvanSix has a twelve month low of $17.99 and a twelve month high of $33.00. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29. The stock has a market cap of $490.77 million, a PE ratio of 6.44 and a beta of 1.60.

Hedge Funds Weigh In On AdvanSix

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in AdvanSix by 0.6% in the first quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company's stock valued at $54,530,000 after buying an additional 15,367 shares during the period. Vanguard Group Inc. increased its stake in AdvanSix by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock valued at $44,871,000 after purchasing an additional 29,963 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AdvanSix by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company's stock valued at $44,982,000 after purchasing an additional 12,793 shares in the last quarter. American Century Companies Inc. increased its stake in AdvanSix by 11.3% in the first quarter. American Century Companies Inc. now owns 823,706 shares of the company's stock valued at $18,657,000 after purchasing an additional 83,678 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of AdvanSix by 5.7% during the first quarter. Wellington Management Group LLP now owns 712,431 shares of the company's stock worth $16,137,000 after acquiring an additional 38,546 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.