American Century Companies Inc. Boosts Stock Holdings in AdvanSix $ASIX

Key Points

• American Century Companies Inc. increased its stake in AdvanSix by 11.3%, owning 823,706 shares worth approximately $18.7 million after purchasing an additional 83,678 shares in the first quarter.
• AdvanSix declared a quarterly dividend of $0.16 per share, resulting in an annualized yield of 3.1%, payable on August 26th.
• Wall Street analysts have mixed ratings on AdvanSix, with one recent downgrade from a "buy" to a "hold" and an average target price of $33.50.

American Century Companies Inc. increased its position in shares of AdvanSix (NYSE:ASIX - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 823,706 shares of the company's stock after purchasing an additional 83,678 shares during the period. American Century Companies Inc. owned 3.07% of AdvanSix worth $18,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASIX. Wellington Management Group LLP lifted its position in AdvanSix by 43.5% in the fourth quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock valued at $19,199,000 after acquiring an additional 204,200 shares during the last quarter. LSV Asset Management grew its position in AdvanSix by 23.2% during the first quarter. LSV Asset Management now owns 601,247 shares of the company's stock worth $13,618,000 after buying an additional 113,147 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in AdvanSix during the fourth quarter worth about $2,803,000. Nuveen LLC acquired a new position in AdvanSix during the first quarter worth about $1,578,000. Finally, GAMMA Investing LLC grew its position in AdvanSix by 5,551.0% during the first quarter. GAMMA Investing LLC now owns 44,530 shares of the company's stock worth $1,009,000 after buying an additional 43,742 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Trading Up 1.4%

Shares of ASIX traded up $0.30 on Friday, hitting $21.38. 95,885 shares of the stock traded hands, compared to its average volume of 188,176. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $573.84 million, a P/E ratio of 7.53 and a beta of 1.60. The stock's 50 day moving average is $21.70 and its two-hundred day moving average is $23.09. AdvanSix has a 1 year low of $17.97 and a 1 year high of $33.00.

AdvanSix Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.