AdvanSix (ASIX) Cut to Hold at ValuEngine
AdvanSix (NYSE:ASIX) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other analysts also recently issued reports on the stock. Cowen lifted their price objective on shares of AdvanSix from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, September 12th. Finally, BidaskClub downgraded shares of AdvanSix from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th.
AdvanSix (NYSE ASIX) traded down $2.01 during midday trading on Friday, hitting $41.04. 479,591 shares of the stock were exchanged, compared to its average volume of 267,672. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.84. AdvanSix has a 12 month low of $18.86 and a 12 month high of $46.51. The firm has a market capitalization of $1,250.00 and a P/E ratio of 26.17.
In other news, Director Michael Marberry bought 539 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were acquired at an average cost of $46.41 per share, for a total transaction of $25,014.99. Following the completion of the acquisition, the director now owns 16,420 shares in the company, valued at $762,052.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have purchased 1,741 shares of company stock worth $74,944. 2.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. acquired a new position in AdvanSix during the third quarter worth $123,000. SG Americas Securities LLC acquired a new position in AdvanSix during the second quarter worth $100,000. Pacad Investment Ltd. boosted its position in AdvanSix by 16.7% during the second quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock worth $109,000 after purchasing an additional 500 shares during the period. Pinebridge Investments L.P. boosted its position in AdvanSix by 13.6% during the second quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock worth $141,000 after purchasing an additional 539 shares during the period. Finally, Quantbot Technologies LP boosted its position in AdvanSix by 772.8% during the second quarter. Quantbot Technologies LP now owns 4,783 shares of the company’s stock worth $149,000 after purchasing an additional 4,235 shares during the period. Institutional investors and hedge funds own 71.32% of the company’s stock.
AdvanSix Company Profile
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
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