StockNews.com Downgrades AdvanSix (NYSE:ASIX) to Hold

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

ASIX has been the subject of several other research reports. UBS Group set a $35.00 target price on shares of AdvanSix in a research note on Tuesday, March 18th. Piper Sandler dropped their price objective on AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th.

AdvanSix Stock Performance

ASIX stock opened at $23.04 on Monday. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. AdvanSix has a twelve month low of $20.86 and a twelve month high of $33.00. The business’s fifty day moving average is $28.48 and its 200-day moving average is $29.24. The company has a market cap of $616.18 million, a P/E ratio of 14.31 and a beta of 1.73.

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

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 2.78%. AdvanSix’s dividend payout ratio (DPR) is currently 39.75%.

Insider Buying and Selling at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $28.15, for a total transaction of $140,750.00. Following the sale, the chief executive officer now directly owns 507,795 shares in the company, valued at $14,294,429.25. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new stake in shares of AdvanSix in the 4th quarter valued at about $94,000. Quantbot Technologies LP grew its holdings in shares of AdvanSix by 618.5% during the third quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock worth $132,000 after buying an additional 3,754 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in AdvanSix in the 4th quarter valued at approximately $137,000. State of Wyoming bought a new stake in AdvanSix in the 4th quarter valued at approximately $156,000. Finally, Public Employees Retirement System of Ohio boosted its position in AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after acquiring an additional 1,396 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Company 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.