AdvanSix $ASIX Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in AdvanSix by 6.0%, selling 65,957 shares during the 1st quarter, leaving it with a total of 1,036,156 shares valued at approximately $23.47 million.
• Several institutional investors increased their holdings in AdvanSix during the same quarter, with LSV Asset Management leading with a 23.2% increase in their position.
• AdvanSix recently declared a quarterly dividend of $0.16 per share, representing an annualized yield of 3.1% and a payout ratio of 22.54%.

Alliancebernstein L.P. trimmed its position in AdvanSix (NYSE:ASIX - Free Report) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,036,156 shares of the company's stock after selling 65,957 shares during the quarter. Alliancebernstein L.P. owned 3.86% of AdvanSix worth $23,469,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Bridgeway Capital Management LLC grew its stake in AdvanSix by 1.2% during the first quarter. Bridgeway Capital Management LLC now owns 262,039 shares of the company's stock worth $5,935,000 after buying an additional 3,217 shares during the period. AQR Capital Management LLC lifted its holdings in shares of AdvanSix by 35.7% during the 1st quarter. AQR Capital Management LLC now owns 74,743 shares of the company's stock valued at $1,693,000 after acquiring an additional 19,668 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in AdvanSix by 65.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 62,299 shares of the company's stock worth $1,411,000 after purchasing an additional 24,690 shares during the period. Royal Bank of Canada increased its holdings in AdvanSix by 23.2% in the 1st quarter. Royal Bank of Canada now owns 18,990 shares of the company's stock valued at $430,000 after purchasing an additional 3,575 shares in the last quarter. Finally, State of Wyoming raised its position in AdvanSix by 80.6% in the first quarter. State of Wyoming now owns 9,866 shares of the company's stock valued at $223,000 after purchasing an additional 4,402 shares during the period. Hedge funds and other institutional investors own 86.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler set a $32.00 target price on AdvanSix in a research 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, AdvanSix has a consensus rating of "Buy" and an average target price of $33.50.

AdvanSix Stock Down 1.3%

ASIX traded down $0.27 on Tuesday, reaching $20.83. The company's stock had a trading volume of 158,787 shares, compared to its average volume of 190,170. AdvanSix has a 1 year low of $17.97 and a 1 year high of $33.00. The business's 50 day moving average is $20.87 and its 200 day moving average is $22.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.35 and a quick ratio of 0.66. The stock has a market cap of $559.08 million, a price-to-earnings ratio of 7.33 and a beta of 1.64.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. AdvanSix's dividend payout ratio (DPR) is presently 22.54%.

AdvanSix 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.