AdvanSix $ASIX Stock Holdings Increased by Russell Investments Group Ltd.

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. grew its stake in shares of AdvanSix (NYSE:ASIX - Free Report) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,380 shares of the company's stock after purchasing an additional 27,586 shares during the quarter. Russell Investments Group Ltd. owned 0.86% of AdvanSix worth $5,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently 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 worth $45,000 after purchasing an additional 1,178 shares in the last quarter. State of Wyoming acquired a new position in shares of AdvanSix during the fourth quarter worth about $156,000. ProShare Advisors LLC acquired a new position in shares of AdvanSix during the fourth quarter worth about $220,000. GeoWealth Management LLC acquired a new position in shares of AdvanSix during the fourth quarter worth about $221,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of AdvanSix by 29.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,847 shares of the company's stock worth $224,000 after purchasing an additional 1,780 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company's stock.

AdvanSix Stock Up 1.3%

AdvanSix stock traded up $0.27 during midday trading on Wednesday, hitting $20.85. The stock had a trading volume of 158,290 shares, compared to its average volume of 250,949. 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 stock has a market cap of $559.69 million, a P/E ratio of 7.34 and a beta of 1.60. AdvanSix has a 12 month low of $17.97 and a 12 month high of $33.00. The business has a fifty day moving average price of $21.75 and a 200 day moving average price of $23.14.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, August 12th. AdvanSix's payout ratio is currently 22.54%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen cut AdvanSix from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Piper Sandler set a $32.00 price target on AdvanSix in a research note on Monday, May 19th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $33.50.

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.