Wellington Management Group LLP Acquires 38,546 Shares of AdvanSix $ASIX

Key Points

• Wellington Management Group LLP increased its stake in AdvanSix by 5.7%, acquiring an additional 38,546 shares, bringing its total ownership to over 712,000 shares valued at approximately $16.1 million.
• Several other institutional investors, including Versor Investments LP and American Century Companies Inc., also significantly raised their stakes in AdvanSix during the same quarter.
• AdvanSix recently announced a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 3.1% with a payout ratio of 22.54%.

Wellington Management Group LLP boosted its holdings in shares of AdvanSix (NYSE:ASIX - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 712,431 shares of the company's stock after acquiring an additional 38,546 shares during the period. Wellington Management Group LLP owned 2.66% of AdvanSix worth $16,137,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ASIX. LSV Asset Management lifted its position in AdvanSix by 23.2% during 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. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in AdvanSix during the 4th quarter valued at about $2,803,000. American Century Companies Inc. lifted its position in AdvanSix by 11.3% during the 1st quarter. American Century Companies Inc. now owns 823,706 shares of the company's stock valued at $18,657,000 after acquiring an additional 83,678 shares during the period. Nuveen LLC purchased a new position in AdvanSix during the 1st quarter valued at about $1,578,000. Finally, GAMMA Investing LLC lifted its position in AdvanSix by 5,551.0% during the 1st quarter. GAMMA Investing LLC now owns 44,530 shares of the company's stock valued at $1,009,000 after acquiring an additional 43,742 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Stock Performance

Shares of ASIX traded up $0.31 during mid-day trading on Friday, hitting $21.39. 206,448 shares of the company traded hands, compared to its average volume of 245,662. 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 50-day moving average price of $21.66 and a two-hundred day moving average price of $23.03. AdvanSix has a 1 year low of $17.97 and a 1 year high of $33.00. The stock has a market cap of $574.19 million, a price-to-earnings ratio of 7.53 and a beta of 1.60.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 12th. AdvanSix's payout ratio is presently 22.54%.

Analyst Ratings Changes

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

AdvanSix 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.