Charles Schwab Investment Management Inc. Boosts Stock Position in AdvanSix $ASIX

Key Points

• Charles Schwab Investment Management Inc. increased its shareholding in AdvanSix by 7.1% during Q1, owning approximately 1.27% of the company worth $7.73 million.
• AdvanSix announced a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 3.1% and a dividend payout ratio of 22.54%.
• Analysts have set a consensus rating of "Buy" for AdvanSix, with an average target price of $33.50, despite a recent downgrade from "buy" to "hold" by Wall Street Zen.

Charles Schwab Investment Management Inc. raised its holdings in AdvanSix (NYSE:ASIX - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,341 shares of the company's stock after purchasing an additional 22,528 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.27% of AdvanSix worth $7,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in AdvanSix by 149.5% in the 1st quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock worth $45,000 after acquiring an additional 1,178 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in AdvanSix by 35.0% during the first quarter. Teacher Retirement System of Texas now owns 51,692 shares of the company's stock valued at $1,171,000 after purchasing an additional 13,391 shares during the last quarter. New York State Teachers Retirement System boosted its position in AdvanSix by 6.0% during the first quarter. New York State Teachers Retirement System now owns 50,496 shares of the company's stock worth $1,144,000 after purchasing an additional 2,837 shares during the period. Foundations Investment Advisors LLC boosted its position in AdvanSix by 221.5% during the first quarter. Foundations Investment Advisors LLC now owns 25,133 shares of the company's stock worth $569,000 after purchasing an additional 17,316 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of AdvanSix in the first quarter worth about $221,000. Institutional investors own 86.39% of the company's stock.

AdvanSix Stock Up 1.5%

Shares of NYSE ASIX traded up $0.31 during mid-day trading on Friday, hitting $21.39. 206,448 shares of the stock traded hands, compared to its average volume of 245,662. 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 has a 52 week low of $17.97 and a 52 week high of $33.00. The company has a market cap of $574.19 million, a price-to-earnings ratio of 7.22 and a beta of 1.60. The stock has a fifty day moving average price of $21.66 and a 200-day moving average price of $23.03.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.64 annualized dividend and a dividend yield of 3.0%. AdvanSix's payout ratio is currently 22.54%.

Analyst Upgrades and Downgrades

ASIX has been the topic of a number of recent research reports. Piper Sandler set a $32.00 price objective on AdvanSix in a report on Monday, May 19th. Wall Street Zen cut AdvanSix from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $33.50.

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.