Cubist Systematic Strategies LLC Grows Holdings in AdvanSix $ASIX

Key Points

• Cubist Systematic Strategies LLC increased its stake in AdvanSix by 65.6%, owning 62,299 shares valued at approximately $1.41 million as of their latest SEC filing.
• AdvanSix recently announced a quarterly dividend of $0.16, resulting in an annualized dividend yield of 3.0%.
• AdvanSix's stock is currently rated as a "Buy" on average, with a consensus target price of $33.50, although Wall Street Zen downgraded it to a "hold" rating.

Cubist Systematic Strategies LLC boosted its stake in AdvanSix (NYSE:ASIX - Free Report) by 65.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,299 shares of the company's stock after acquiring an additional 24,690 shares during the period. Cubist Systematic Strategies LLC owned about 0.23% of AdvanSix worth $1,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of AdvanSix by 149.5% in the first quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock valued at $45,000 after acquiring an additional 1,178 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of AdvanSix by 22.3% in the 1st quarter. AlphaQuest LLC now owns 4,014 shares of the company's stock valued at $91,000 after buying an additional 731 shares during the period. Quantbot Technologies LP boosted its stake in shares of 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 buying an additional 1,022 shares in the last quarter. State of Wyoming purchased a new position in AdvanSix in the fourth quarter worth $156,000. Finally, BOKF NA acquired a new stake in AdvanSix in the fourth quarter valued at $217,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASIX. Wall Street Zen downgraded shares of AdvanSix from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Piper Sandler set a $32.00 target price on shares of AdvanSix in a report on Monday, May 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, AdvanSix has a consensus rating of "Buy" and a consensus target price of $33.50.

AdvanSix Trading Up 4.7%

Shares of AdvanSix stock traded up $0.97 during mid-day trading on Thursday, hitting $21.61. 125,263 shares of the stock were exchanged, compared to its average volume of 188,549. The company has a 50-day simple moving average of $21.16 and a 200 day simple moving average of $22.54. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $579.88 million, a price-to-earnings ratio of 7.61 and a beta of 1.64. AdvanSix has a twelve month low of $17.97 and a twelve month high of $33.00.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.16 per share. 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 payout ratio is currently 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.