In this article, we discuss 5 important dividend increases to watch in August. If you want to read our detailed analysis of dividend stocks and their importance, go directly to read 10 Important Dividend Increases to Watch in August.
5. AdvanSix Inc. (NYSE:ASIX)
Dividend Yield as of August 15: 1.45%
AdvanSix Inc. (NYSE:ASIX) is a New Jersey-based chemical company that specializes in the production of fertilizers. In Q2 2022, the company reported $95.8 million in operating cash flow, up from $49 million in the previous quarter. Its free cash flow grew to $78 million, from $28 million in the preceding quarter. The dividend payments for the quarter amounted to over $3.5 million.
On August 5, AdvanSix Inc. (NYSE:ASIX) declared a 16% hike in its quarterly dividend to $0.145 per share. As of August 15, the stock’s dividend yield stood at 1.45%.
Piper Sandler analyst Charles Neivert mentioned that the uncertain economy could have some impact on the nylon end markets. Given this, the analyst lowered his price target on AdvanSix Inc. (NYSE:ASIX) in August to $60 but kept an Overweight rating on the shares.
At the end of Q1 2022, 17 hedge funds in Insider Monkey’s database owned stakes in AdvanSix Inc. (NYSE:ASIX), down from 20 in the previous quarter. The collective value of these stakes is over $72 million. Scopus Asset Management was the company’s leading stakeholder in Q1, owning a stake worth over $12.7 million.