Goldman Sachs Group Inc. Has $3.36 Million Stock Position in AdvanSix $ASIX

Key Points

• Goldman Sachs Group Inc. has reduced its stake in AdvanSix (NYSE:ASIX) by 21.3%, now owning approximately 148,149 shares worth about $3.36 million.
• AdvanSix recently announced a quarterly dividend of $0.16 per share, yielding approximately 3.0% annually, reflecting a payout ratio of 22.54%.
• Wall Street Zen downgraded AdvanSix shares from a "buy" to a "hold" rating, while the stock maintains an average rating of "buy" from analysts with a target price of $33.50.

Goldman Sachs Group Inc. decreased its holdings in shares of AdvanSix (NYSE:ASIX - Free Report) by 21.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,149 shares of the company's stock after selling 40,058 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.55% of AdvanSix worth $3,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in AdvanSix by 149.5% during the 1st quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock worth $45,000 after buying an additional 1,178 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of AdvanSix by 35.0% in the first quarter. Teacher Retirement System of Texas now owns 51,692 shares of the company's stock valued at $1,171,000 after acquiring an additional 13,391 shares during the last quarter. New York State Teachers Retirement System raised its holdings 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 acquiring an additional 2,837 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings 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 acquiring an additional 17,316 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in AdvanSix during the first quarter valued at approximately $383,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

AdvanSix Stock Performance

Shares of NYSE ASIX traded down $0.45 during midday trading on Monday, hitting $19.96. 251,740 shares of the company's stock were exchanged, compared to its average volume of 204,819. AdvanSix has a 12 month low of $17.97 and a 12 month high of $33.00. The company's 50 day moving average price is $20.62 and its 200 day moving average price is $22.11. 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 $535.81 million, a PE ratio of 7.03 and a beta of 1.64.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. AdvanSix's dividend payout ratio is presently 22.54%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered AdvanSix from a "buy" rating to a "hold" rating in a research 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 an average rating of "Buy" and a consensus 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.