Principal Financial Group Inc. Buys 3,479 Shares of AdvanSix (NYSE:ASIX)

Principal Financial Group Inc. increased its stake in shares of AdvanSix (NYSE:ASIX) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,030 shares of the company’s stock after purchasing an additional 3,479 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of AdvanSix worth $3,013,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew 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 valued at $45,000 after purchasing an additional 1,178 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $137,000. State of Wyoming bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $156,000. BOKF NA bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $217,000. Finally, ProShare Advisors LLC bought a new stake in shares of AdvanSix during the fourth quarter valued at approximately $220,000. 86.39% of the stock is owned by institutional investors.

AdvanSix Price Performance

Shares of ASIX stock opened at $21.96 on Friday. AdvanSix has a 52-week low of $18.44 and a 52-week high of $33.00. The stock has a market cap of $588.75 million, a PE ratio of 7.04 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.56 and a current ratio of 1.19. The firm’s 50 day moving average price is $23.83 and its two-hundred day moving average price is $25.04.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.64 annualized dividend and a yield of 2.91%. AdvanSix’s dividend payout ratio (DPR) is presently 20.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ASIX. Piper Sandler set a $32.00 price target on shares of AdvanSix in a research note on Monday, May 19th. Wall Street Zen raised shares of AdvanSix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 31st.

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.