AdvanSix (NYSE:ASIX) Price Target Lowered to $35.00 at Piper Sandler

AdvanSix (NYSE:ASIX) had its price target decreased by Piper Sandler from $39.00 to $35.00 in a report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Trading Down 2.5 %

NYSE:ASIX opened at $23.50 on Tuesday. The firm has a market capitalization of $628.51 million, a price-to-earnings ratio of 14.60 and a beta of 1.73. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $28.82 and its two-hundred day moving average price is $29.38. AdvanSix has a 1-year low of $20.86 and a 1-year high of $33.00.

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

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 2.72%. AdvanSix’s payout ratio is 39.75%.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $30.19, for a total value of $150,950.00. Following the sale, the chief executive officer now owns 502,795 shares in the company, valued at $15,179,381.05. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

Several large investors have recently bought and sold shares of the stock. Inspire Investing LLC raised its holdings in shares of AdvanSix by 2.5% in the 4th quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock worth $445,000 after purchasing an additional 387 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of AdvanSix by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 135,127 shares of the company’s stock valued at $3,850,000 after buying an additional 450 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AdvanSix by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,543 shares of the company’s stock worth $414,000 after purchasing an additional 508 shares during the period. Sheets Smith Wealth Management lifted its position in AdvanSix by 3.7% in the fourth quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock valued at $449,000 after purchasing an additional 569 shares during the last quarter. Finally, Nilsine Partners LLC grew its stake in shares of AdvanSix by 3.1% in the fourth quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock worth $606,000 after purchasing an additional 650 shares during the last quarter. 86.39% of the stock is currently 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.