Murphy Middleton Hinkle & Parker Inc. Acquires New Stake in AdvanSix $ASIX

Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of AdvanSix (NYSE:ASIX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 40,568 shares of the company’s stock, valued at approximately $702,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in AdvanSix by 1,145.9% during the 4th quarter. SG Americas Securities LLC now owns 67,812 shares of the company’s stock valued at $1,173,000 after purchasing an additional 62,369 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of AdvanSix by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,116 shares of the company’s stock worth $1,398,000 after buying an additional 4,367 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of AdvanSix by 27,537.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after buying an additional 2,203 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of AdvanSix by 186.5% in the third quarter. Verition Fund Management LLC now owns 31,031 shares of the company’s stock valued at $601,000 after buying an additional 20,199 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in AdvanSix by 24.8% during the third quarter. Qube Research & Technologies Ltd now owns 69,245 shares of the company’s stock valued at $1,342,000 after buying an additional 13,754 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Loop Capital set a $25.00 target price on AdvanSix in a report on Thursday, March 12th. Truist Financial upped their price target on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a report on Monday, February 23rd. Wall Street Zen lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AdvanSix presently has an average rating of “Hold” and a consensus price target of $25.67.

AdvanSix Stock Up 5.2%

Shares of NYSE:ASIX opened at $21.31 on Tuesday. The firm has a 50 day simple moving average of $18.39 and a 200 day simple moving average of $18.17. AdvanSix has a 52 week low of $14.10 and a 52 week high of $25.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The company has a market cap of $572.58 million, a PE ratio of 11.77 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The firm had revenue of $359.95 million for the quarter, compared to analysts’ expectations of $340.85 million. As a group, research analysts expect 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 Monday, March 23rd. Stockholders of record on Monday, March 9th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. AdvanSix’s payout ratio is currently 35.36%.

AdvanSix 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.