AdvanSix $ASIX Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in AdvanSix (NYSE: ASIX) by 26.8% in the first quarter, resulting in a total of $1.92 million worth of shares owned.
• AdvanSix recently declared a quarterly dividend of $0.16 per share, with a dividend yield of 3.2%.
• Wall Street analysts have given AdvanSix a consensus rating of "Buy" and set an average target price of $33.50.

Public Sector Pension Investment Board increased its holdings in shares of AdvanSix (NYSE:ASIX - Free Report) by 26.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 84,786 shares of the company's stock after acquiring an additional 17,916 shares during the period. Public Sector Pension Investment Board owned about 0.32% of AdvanSix worth $1,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of AdvanSix during the 1st quarter worth approximately $1,578,000. Charles Schwab Investment Management Inc. increased its holdings in AdvanSix by 7.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 341,341 shares of the company's stock worth $7,731,000 after purchasing an additional 22,528 shares during the period. Vanguard Group Inc. increased its holdings in AdvanSix by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock worth $44,871,000 after purchasing an additional 29,963 shares during the period. LSV Asset Management increased its holdings in shares of AdvanSix by 23.2% in the 1st quarter. LSV Asset Management now owns 601,247 shares of the company's stock valued at $13,618,000 after acquiring an additional 113,147 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of AdvanSix in the first quarter worth about $221,000. 86.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler set a $32.00 price objective on AdvanSix in a research note on Monday, May 19th. Wall Street Zen lowered AdvanSix from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $33.50.

AdvanSix Stock Performance

NYSE ASIX traded down $0.3350 during trading on Monday, reaching $20.5650. The company's stock had a trading volume of 67,762 shares, compared to its average volume of 188,124. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.66 and a current ratio of 1.35. The firm has a market cap of $552.05 million, a price-to-earnings ratio of 7.24 and a beta of 1.60. AdvanSix has a twelve month low of $17.97 and a twelve month high of $33.00. The business's fifty day moving average price is $21.95 and its 200-day moving average price is $23.24.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.64 annualized dividend and a dividend yield of 3.1%. AdvanSix's dividend payout ratio is presently 22.54%.

AdvanSix Company 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.