AdvanSix (NYSE:ASIX) Price Target Raised to $20.00

AdvanSix (NYSE:ASIX) had its price target boosted by Truist Financial from $19.00 to $20.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently weighed in on ASIX. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Wall Street Zen upgraded AdvanSix from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.

AdvanSix Stock Performance

NYSE ASIX opened at $18.10 on Monday. The stock has a fifty day simple moving average of $17.54 and a 200-day simple moving average of $18.26. The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. The stock has a market cap of $486.43 million, a PE ratio of 10.00 and a beta of 1.72. AdvanSix has a twelve month low of $14.10 and a twelve month high of $28.93.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The company had revenue of $359.95 million for the quarter, compared to analysts’ expectations of $340.85 million. Equities analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be paid a $0.16 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. AdvanSix’s payout ratio is 35.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASIX. Royal Bank of Canada increased its holdings in AdvanSix by 23.2% during the 1st quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock worth $430,000 after purchasing an additional 3,575 shares during the period. AQR Capital Management LLC grew its position in shares of AdvanSix by 35.7% during the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock worth $1,693,000 after buying an additional 19,668 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after buying an additional 604 shares during the period. CWM LLC increased its stake in shares of AdvanSix by 1,695.3% during the second quarter. CWM LLC now owns 7,594 shares of the company’s stock worth $180,000 after buying an additional 7,171 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in AdvanSix in the second quarter valued at approximately $266,000. 86.39% of the stock is currently owned by hedge funds and other 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.