Nuveen LLC Invests $1.58 Million in AdvanSix $ASIX

Key Points

• Nuveen LLC has acquired 69,654 shares of AdvanSix, valued at approximately $1,578,000, representing about 0.26% of the company's stock as of their latest SEC filing.
• AdvanSix recently announced a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 3.0%.
• Analysts have given AdvanSix a consensus rating of "Buy" with a price target of $33.50, although some brokerages have downgraded their ratings in recent reports.

Nuveen LLC purchased a new stake in shares of AdvanSix (NYSE:ASIX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 69,654 shares of the company's stock, valued at approximately $1,578,000. Nuveen LLC owned 0.26% of AdvanSix as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ASIX. GAMMA Investing LLC raised its position in AdvanSix by 149.5% in the first quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock worth $45,000 after acquiring an additional 1,178 shares during the period. State of Wyoming purchased a new stake in shares of AdvanSix in the 4th quarter worth $156,000. BOKF NA bought a new position in AdvanSix in the 4th quarter worth $217,000. ProShare Advisors LLC purchased a new position in AdvanSix during the fourth quarter valued at $220,000. Finally, XTX Topco Ltd purchased a new position in AdvanSix during the first quarter valued at $221,000. Institutional investors own 86.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ASIX shares. 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 price objective on AdvanSix in a research note on Monday, May 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, AdvanSix presently has an average rating of "Buy" and an average price target of $33.50.

AdvanSix Trading Down 0.5%

Shares of ASIX stock traded down $0.11 during trading hours on Wednesday, reaching $20.90. 78,410 shares of the stock were exchanged, compared to its average volume of 188,469. The firm has a market capitalization of $560.96 million, a price-to-earnings ratio of 7.35 and a beta of 1.64. The company's 50-day moving average price is $21.56 and its 200-day moving average price is $22.86. AdvanSix has a 12-month low of $17.97 and a 12-month high of $33.00. 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. Investors of record on Tuesday, August 12th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. AdvanSix's dividend payout ratio is 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.