Jones Financial Companies Lllp Buys 389,454 Shares of AdvanSix $ASIX

Key Points

• Jones Financial Companies Lllp significantly increased its stake in AdvanSix by 599,160.0%, now owning 389,519 shares valued at approximately $8.8 million.
• AdvanSix announced a quarterly dividend of $0.16, translating to an annual yield of 3.0%, with a current payout ratio of 22.54%.
• Despite a consensus "Buy" rating from analysts, Wall Street Zen has downgraded AdvanSix to a "hold" rating, with a target price set at $32.00.

Jones Financial Companies Lllp grew its stake in shares of AdvanSix (NYSE:ASIX - Free Report) by 599,160.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 389,519 shares of the company's stock after acquiring an additional 389,454 shares during the quarter. Jones Financial Companies Lllp owned about 1.45% of AdvanSix worth $8,823,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ASIX. Price T Rowe Associates Inc. MD lifted its position in shares of AdvanSix by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,948 shares of the company's stock valued at $284,000 after acquiring an additional 1,574 shares during the period. Northern Trust Corp lifted its position in shares of AdvanSix by 12.3% during the 4th quarter. Northern Trust Corp now owns 312,561 shares of the company's stock valued at $8,905,000 after acquiring an additional 34,236 shares during the period. Ameriprise Financial Inc. lifted its position in shares of AdvanSix by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 135,127 shares of the company's stock valued at $3,850,000 after acquiring an additional 450 shares during the period. Bank of America Corp DE lifted its position in shares of AdvanSix by 38.0% during the 4th quarter. Bank of America Corp DE now owns 64,760 shares of the company's stock valued at $1,845,000 after acquiring an additional 17,823 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of AdvanSix by 52.7% during the 4th quarter. Deutsche Bank AG now owns 22,593 shares of the company's stock valued at $644,000 after acquiring an additional 7,795 shares during the period. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Trading Down 1.4%

NYSE ASIX traded down $0.31 during trading hours on Friday, hitting $21.51. 211,252 shares of the company's stock were exchanged, compared to its average volume of 196,270. The stock has a 50-day simple moving average of $21.01 and a 200 day simple moving average of $22.44. AdvanSix has a 1-year low of $17.97 and a 1-year high of $33.00. The firm has a market cap of $577.47 million, a price-to-earnings ratio of 7.57 and a beta of 1.64. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, August 12th. AdvanSix's dividend payout ratio (DPR) is currently 22.54%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ASIX shares. Piper Sandler set a $32.00 price objective on AdvanSix in a research report on Monday, May 19th. Wall Street Zen downgraded AdvanSix from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, AdvanSix currently has a consensus rating of "Buy" and a consensus price target of $33.50.

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.