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

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. Stockholders of record on Tuesday, August 12th will be given a dividend of 0.16 per share on Tuesday, August 26th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, August 12th.

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

AdvanSix Trading Down 1.3%

Shares of NYSE ASIX traded down $0.25 during trading on Monday, hitting $18.94. 304,755 shares of the company were exchanged, compared to its average volume of 182,624. AdvanSix has a 12-month low of $18.44 and a 12-month high of $33.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.66 and a current ratio of 1.35. The company has a fifty day moving average price of $23.34 and a 200-day moving average price of $24.50. The firm has a market capitalization of $507.84 million, a PE ratio of 6.67 and a beta of 1.60.

Hedge Funds Weigh In On AdvanSix

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of AdvanSix by 149.5% during the first quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock worth $45,000 after buying an additional 1,178 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in 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 in the last quarter. AlphaQuest LLC boosted its holdings in 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 in the last quarter. Quantbot Technologies LP boosted its holdings in AdvanSix by 33.2% in the first quarter. Quantbot Technologies LP now owns 4,096 shares of the company's stock valued at $93,000 after purchasing an additional 1,022 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in AdvanSix in the fourth quarter valued at approximately $137,000. 86.39% of the stock is 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.

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