Russell Investments Group Ltd. Has $5.24 Million Stock Holdings in AdvanSix $ASIX

Key Points

• Russell Investments Group Ltd. increased its stake in AdvanSix by 13.5% during the first quarter, owning approximately $5.24 million worth of shares.
• AdvanSix announced a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 3.2%.
• Analysts have varying ratings on AdvanSix, with a consensus target price of $33.50 and some recent downgrades from "buy" to "hold."

Russell Investments Group Ltd. boosted its position in AdvanSix (NYSE:ASIX - Free Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 231,380 shares of the company's stock after buying an additional 27,586 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.86% of AdvanSix worth $5,241,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASIX. Wellington Management Group LLP raised its position in AdvanSix by 43.5% in the 4th quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock valued at $19,199,000 after buying an additional 204,200 shares during the last quarter. LSV Asset Management raised its position in 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 buying an additional 113,147 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of AdvanSix during the 4th quarter worth approximately $2,803,000. Nuveen LLC acquired a new position in shares of AdvanSix during the 1st quarter worth approximately $1,578,000. Finally, GAMMA Investing LLC increased its position in shares of AdvanSix by 5,551.0% during the 1st quarter. GAMMA Investing LLC now owns 44,530 shares of the company's stock worth $1,009,000 after purchasing an additional 43,742 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company's stock.

AdvanSix Stock Down 1.5%

ASIX stock opened at $19.71 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $529.02 million, a PE ratio of 6.94 and a beta of 1.60. AdvanSix has a 1-year low of $17.97 and a 1-year high of $33.00. The business's 50 day simple moving average is $22.01 and its 200 day simple moving average is $23.41.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. AdvanSix's payout ratio is presently 22.54%.

Analysts Set New Price Targets

ASIX has been the topic of several recent analyst reports. Piper Sandler set a $32.00 price target on AdvanSix in a research report on Monday, May 19th. Wall Street Zen lowered AdvanSix from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $33.50.

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.

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