Hotchkis & Wiley Capital Management LLC Has $5.15 Million Position in AdvanSix $ASIX

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in AdvanSix by 8.6%, holding now 227,410 shares worth approximately $5.15 million after selling 21,380 shares.
• The company has recently announced a quarterly dividend of $0.16 per share, resulting in a 3.1% yield based on an annualized dividend payout ratio of 22.54%.
• AdvanSix has a consensus rating of "Buy" with a target price of $33.50, despite some analysts downgrading the stock from "buy" to "hold."

Hotchkis & Wiley Capital Management LLC reduced its stake in AdvanSix (NYSE:ASIX - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 227,410 shares of the company's stock after selling 21,380 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.85% of AdvanSix worth $5,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of AdvanSix by 149.5% during 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 during the period. AlphaQuest LLC increased its holdings in shares of AdvanSix by 22.3% in the first quarter. AlphaQuest LLC now owns 4,014 shares of the company's stock worth $91,000 after acquiring an additional 731 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of AdvanSix by 33.2% in the first quarter. Quantbot Technologies LP now owns 4,096 shares of the company's stock worth $93,000 after acquiring an additional 1,022 shares in the last quarter. State of Wyoming bought a new stake in shares of AdvanSix in the fourth quarter worth about $156,000. Finally, BOKF NA bought a new position in shares of AdvanSix during the fourth quarter worth about $217,000. 86.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ASIX. Piper Sandler set a $32.00 price objective on AdvanSix in a report on Monday, May 19th. Wall Street Zen downgraded 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, the company presently has an average rating of "Buy" and a consensus target price of $33.50.

AdvanSix Stock Performance

Shares of ASIX traded up $0.31 during mid-day trading on Friday, reaching $21.39. The company's stock had a trading volume of 206,448 shares, compared to its average volume of 188,868. AdvanSix has a 1-year low of $17.97 and a 1-year high of $33.00. The stock has a market cap of $574.19 million, a P/E ratio of 7.53 and a beta of 1.60. The business has a 50-day simple moving average of $21.70 and a two-hundred day simple moving average of $23.09. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29.

AdvanSix Announces Dividend

The firm 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 12th. AdvanSix's dividend payout ratio (DPR) is presently 22.54%.

About AdvanSix

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.