GAMMA Investing LLC Purchases 43,742 Shares of AdvanSix Inc. (NYSE:ASIX)

GAMMA Investing LLC boosted its stake in AdvanSix Inc. (NYSE:ASIX) by 5,551.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,530 shares of the company’s stock after buying an additional 43,742 shares during the period. GAMMA Investing LLC owned 0.17% of AdvanSix worth $1,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $94,000. KLP Kapitalforvaltning AS bought a new position in AdvanSix in the fourth quarter worth approximately $137,000. State of Wyoming bought a new position in AdvanSix in the 4th quarter worth $156,000. ProShare Advisors LLC bought a new stake in AdvanSix during the fourth quarter valued at about $220,000. Finally, GeoWealth Management LLC bought a new stake in AdvanSix during the fourth quarter valued at about $221,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix Stock Performance

Shares of NYSE:ASIX opened at $24.29 on Tuesday. The company has a market capitalization of $651.15 million, a price-to-earnings ratio of 15.08 and a beta of 1.62. AdvanSix Inc. has a 52 week low of $18.44 and a 52 week high of $33.00. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $22.63 and a 200 day moving average of $26.03.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Tuesday, May 13th. AdvanSix’s payout ratio is presently 20.51%.

Insider Activity at AdvanSix

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value of $88,960.00. Following the sale, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at approximately $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group set a $35.00 target price on AdvanSix in a report on Tuesday, March 18th. Wall Street Zen upgraded AdvanSix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 31st. Finally, Piper Sandler set a $32.00 price target on AdvanSix in a report on Monday, May 19th.

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.