GAMMA Investing LLC grew its stake in AdvanSix Inc. (NYSE:ASIX - Free Report) by 5,551.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,530 shares of the company's stock after acquiring an additional 43,742 shares during the quarter. GAMMA Investing LLC owned about 0.17% of AdvanSix worth $1,009,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in AdvanSix by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 110,289 shares of the company's stock worth $3,142,000 after buying an additional 5,705 shares during the period. American Century Companies Inc. lifted its position in AdvanSix by 15.8% during the fourth quarter. American Century Companies Inc. now owns 740,028 shares of the company's stock worth $21,083,000 after buying an additional 100,841 shares during the period. Proficio Capital Partners LLC purchased a new position in AdvanSix during the fourth quarter worth about $663,000. Envestnet Asset Management Inc. purchased a new position in AdvanSix during the fourth quarter worth about $228,000. Finally, Deutsche Bank AG lifted its position in AdvanSix by 52.7% during the fourth quarter. Deutsche Bank AG now owns 22,593 shares of the company's stock worth $644,000 after buying an additional 7,795 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
AdvanSix Trading Down 1.9%
Shares of AdvanSix stock traded down $0.45 during trading hours on Tuesday, reaching $23.82. The stock had a trading volume of 96,662 shares, compared to its average volume of 152,517. The firm has a 50 day simple moving average of $22.63 and a two-hundred day simple moving average of $26.03. The firm has a market capitalization of $638.69 million, a price-to-earnings ratio of 14.80 and a beta of 1.62. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. AdvanSix Inc. has a 1 year low of $18.44 and a 1 year high of $33.00.
AdvanSix Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.69%. AdvanSix's dividend payout ratio (DPR) is currently 20.51%.
Insider Activity
In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the sale, the senior vice president now owns 36,363 shares in the company, valued at approximately $808,713.12. This trade represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.60% of the company's stock.
Wall Street Analyst Weigh In
ASIX has been the topic of several recent analyst reports. UBS Group set a $35.00 target price on AdvanSix in a research report on Tuesday, March 18th. Wall Street Zen upgraded AdvanSix from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 31st. Finally, Piper Sandler set a $32.00 price objective on AdvanSix in a report on Monday, May 19th.
Check Out Our Latest Analysis on ASIX
AdvanSix Profile
(
Free Report)
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.
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