Public Sector Pension Investment Board Raises Position in AdvanSix $ASIX

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 grew its position in AdvanSix (NYSE:ASIX - Free Report) by 26.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,786 shares of the company's stock after purchasing an additional 17,916 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of AdvanSix worth $1,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of AdvanSix by 0.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company's stock valued at $54,530,000 after purchasing an additional 15,367 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AdvanSix by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock valued at $44,871,000 after purchasing an additional 29,963 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AdvanSix by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company's stock valued at $44,982,000 after purchasing an additional 12,793 shares in the last quarter. Wellington Management Group LLP raised its stake in AdvanSix by 43.5% during the 4th quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock worth $19,199,000 after acquiring an additional 204,200 shares in the last quarter. Finally, LSV Asset Management raised its stake in AdvanSix by 23.2% during the 1st quarter. LSV Asset Management now owns 601,247 shares of the company's stock worth $13,618,000 after acquiring an additional 113,147 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ASIX shares. Piper Sandler set a $32.00 price target on shares of AdvanSix in a research note on Monday, May 19th. Wall Street Zen lowered shares of 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, According to MarketBeat.com, AdvanSix presently has a consensus rating of "Buy" and an average price target of $33.50.

AdvanSix Stock Performance

AdvanSix stock traded down $0.05 during midday trading on Tuesday, hitting $20.59. 204,566 shares of the company's stock were exchanged, compared to its average volume of 252,050. AdvanSix has a 12-month low of $17.97 and a 12-month high of $33.00. 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 stock has a market cap of $552.56 million, a price-to-earnings ratio of 7.25 and a beta of 1.60. The firm's 50 day simple moving average is $21.81 and its 200 day simple moving average is $23.16.

AdvanSix Dividend Announcement

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