AdvanSix (NYSE:ASIX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of AdvanSix (NYSE:ASIX) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Truist Financial started coverage on AdvanSix in a research report on Thursday, January 15th. They issued a “hold” rating and a $19.00 target price for the company. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.67.

AdvanSix Trading Down 0.3%

NYSE:ASIX opened at $17.06 on Friday. The stock has a market cap of $458.12 million, a price-to-earnings ratio of 8.88 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.36. AdvanSix has a 1 year low of $14.10 and a 1 year high of $32.58. The business has a fifty day moving average of $16.46 and a 200-day moving average of $18.77.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32). The company had revenue of $374.47 million for the quarter, compared to the consensus estimate of $365.00 million. AdvanSix had a net margin of 3.52% and a return on equity of 7.14%. Equities analysts predict that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $0.64 annualized dividend and a yield of 3.8%. AdvanSix’s payout ratio is 33.33%.

Institutional Investors Weigh In On AdvanSix

Large investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in AdvanSix in the 2nd quarter worth about $451,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of AdvanSix by 165.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock worth $9,828,000 after buying an additional 257,789 shares during the period. Teacher Retirement System of Texas increased its position in shares of AdvanSix by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 58,447 shares of the company’s stock worth $1,388,000 after acquiring an additional 6,755 shares in the last quarter. Inspire Investing LLC increased its position in shares of AdvanSix by 13.9% in the second quarter. Inspire Investing LLC now owns 20,019 shares of the company’s stock worth $475,000 after acquiring an additional 2,445 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of AdvanSix during the second quarter valued at approximately $2,967,000. 86.39% of the stock is owned by institutional investors.

AdvanSix Company Profile

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.