AdvanSix (NYSE:ASIX) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research note issued to investors on Monday.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. Truist Financial boosted their price objective on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.00.

AdvanSix Trading Down 1.1%

ASIX stock opened at $18.42 on Monday. The company has a market capitalization of $495.05 million, a PE ratio of 10.18 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. AdvanSix has a one year low of $14.10 and a one year high of $25.53. The company’s 50 day moving average price is $17.91 and its two-hundred day moving average price is $18.20.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share (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 during the quarter, compared to analysts’ expectations of $340.85 million. As a group, analysts predict that AdvanSix will post 4 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

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

Institutional Investors Weigh In On AdvanSix

A number of large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its holdings in 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. CenterBook Partners LP purchased a new position in shares of AdvanSix in the 2nd quarter valued at approximately $2,967,000. Brandywine Global Investment Management LLC boosted its position in shares of AdvanSix by 19.9% during the second quarter. Brandywine Global Investment Management LLC now owns 116,740 shares of the company’s stock valued at $2,773,000 after purchasing an additional 19,370 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in AdvanSix in the second quarter worth $266,000. Finally, American Century Companies Inc. lifted its position in AdvanSix by 9.3% during the third quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after buying an additional 81,927 shares during the period. 86.39% of the stock is currently 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.