AlphaQuest LLC Has $91,000 Stock Holdings in AdvanSix $ASIX

AlphaQuest LLC increased its holdings in AdvanSix (NYSE:ASIX) by 22.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,014 shares of the company’s stock after purchasing an additional 731 shares during the period. AlphaQuest LLC’s holdings in AdvanSix were worth $91,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in AdvanSix by 0.6% in the first quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company’s stock worth $54,530,000 after purchasing an additional 15,367 shares in the last quarter. Vanguard Group Inc. raised its position in AdvanSix by 1.5% in the first 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 in the last quarter. American Century Companies Inc. raised its position in AdvanSix by 11.3% in the first quarter. American Century Companies Inc. now owns 823,706 shares of the company’s stock worth $18,657,000 after purchasing an additional 83,678 shares in the last quarter. Wellington Management Group LLP raised its position in AdvanSix by 5.7% in the first quarter. Wellington Management Group LLP now owns 712,431 shares of the company’s stock worth $16,137,000 after purchasing an additional 38,546 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of AdvanSix by 23.2% during the first quarter. LSV Asset Management now owns 601,247 shares of the company’s stock worth $13,618,000 after buying an additional 113,147 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler set a $32.00 price objective on shares of AdvanSix in a report on Monday, May 19th. Wall Street Zen lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat, AdvanSix currently has an average rating of “Buy” and a consensus price target of $33.50.

AdvanSix Price Performance

ASIX opened at $21.01 on Wednesday. AdvanSix has a one year low of $17.97 and a one year high of $33.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.35 and a quick ratio of 0.66. The company’s 50 day simple moving average is $21.56 and its 200-day simple moving average is $22.86. The stock has a market capitalization of $563.91 million, a P/E ratio of 7.40 and a beta of 1.64.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. AdvanSix’s dividend payout ratio (DPR) is presently 22.54%.

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.