AdvanSix (NYSE:ASIX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research report released on Monday.

Other analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. UBS Group set a $35.00 price objective on shares of AdvanSix in a report on Tuesday, March 18th.

AdvanSix Stock Performance

NYSE:ASIX opened at $22.82 on Monday. The company has a market capitalization of $610.41 million, a PE ratio of 14.18 and a beta of 1.73. AdvanSix has a fifty-two week low of $20.86 and a fifty-two week high of $33.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. The company has a 50 day simple moving average of $28.17 and a two-hundred day simple moving average of $29.17.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.37) by $0.40. The business had revenue of $329.06 million during the quarter, compared to analysts’ expectations of $377.15 million. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. Research analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, March 10th. AdvanSix’s payout ratio is currently 39.75%.

Insider Buying and Selling at AdvanSix

In other news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares of the company’s stock, valued at $15,179,381.05. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in shares of AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after acquiring an additional 261,964 shares during the period. Wellington Management Group LLP lifted its stake in shares of AdvanSix by 43.5% during the 4th quarter. Wellington Management Group LLP now owns 673,885 shares of the company’s stock valued at $19,199,000 after buying an additional 204,200 shares in the last quarter. Prudential Financial Inc. boosted its holdings in AdvanSix by 90.2% in the 4th quarter. Prudential Financial Inc. now owns 402,250 shares of the company’s stock worth $11,460,000 after buying an additional 190,727 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in AdvanSix by 441.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company’s stock valued at $6,248,000 after acquiring an additional 178,843 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of AdvanSix by 15.8% during the 4th quarter. American Century Companies Inc. now owns 740,028 shares of the company’s stock valued at $21,083,000 after purchasing an additional 100,841 shares during the period. 86.39% of the stock is owned by institutional investors.

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.