AdvanSix (NYSE:ASIX) Lowered to “Hold” Rating by StockNews.com

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

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

AdvanSix Trading Up 0.1 %

AdvanSix stock opened at $23.04 on Monday. The business has a 50 day moving average price of $28.48 and a two-hundred day moving average price of $29.24. 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 12 month low of $20.86 and a 12 month high of $33.00. The stock has a market cap of $616.18 million, a price-to-earnings ratio of 14.31 and a beta of 1.73.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.40. The business 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%. As a group, equities analysts forecast that AdvanSix will post 4 EPS for the current year.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a yield of 2.78%. AdvanSix’s dividend payout ratio (DPR) is presently 39.75%.

Insider Activity at AdvanSix

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

Hedge Funds Weigh In On AdvanSix

A number of institutional investors have recently modified their holdings of ASIX. Vanguard Group Inc. grew its stake in shares of AdvanSix by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,951,100 shares of the company’s stock valued at $55,587,000 after purchasing an additional 27,981 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AdvanSix by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company’s stock valued at $44,982,000 after buying an additional 12,793 shares during the last quarter. American Century Companies Inc. increased its stake in shares of AdvanSix by 15.8% in the 4th quarter. American Century Companies Inc. now owns 740,028 shares of the company’s stock valued at $21,083,000 after buying an additional 100,841 shares during the period. Wellington Management Group LLP raised its position in shares of AdvanSix by 43.5% during the fourth quarter. Wellington Management Group LLP now owns 673,885 shares of the company’s stock worth $19,199,000 after acquiring an additional 204,200 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of AdvanSix by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 602,303 shares of the company’s stock worth $17,164,000 after acquiring an additional 3,818 shares during the last quarter. 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.