AdvanSix (NYSE:ASIX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of AdvanSix (NYSE:ASIXGet Rating) from a strong-buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “

A number of other brokerages also recently commented on ASIX. Stifel Nicolaus boosted their price objective on AdvanSix from $64.00 to $76.00 in a research report on Friday, March 11th. StockNews.com assumed coverage on AdvanSix in a research report on Thursday, March 31st. They set a buy rating for the company. Finally, Piper Sandler boosted their price objective on AdvanSix from $58.00 to $62.00 and gave the stock an overweight rating in a research report on Monday, March 14th.

NYSE ASIX opened at $46.38 on Wednesday. The company has a market cap of $1.30 billion, a P/E ratio of 7.74 and a beta of 1.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.81. The stock has a 50-day moving average of $49.26 and a two-hundred day moving average of $46.08. AdvanSix has a 1-year low of $27.22 and a 1-year high of $57.10.

AdvanSix (NYSE:ASIXGet Rating) last released its earnings results on Friday, February 18th. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $424.06 million during the quarter, compared to analyst estimates of $408.30 million. AdvanSix had a net margin of 9.78% and a return on equity of 29.76%. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, analysts anticipate that AdvanSix will post 8.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 17th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, May 16th. AdvanSix’s payout ratio is 8.35%.

In related news, insider Christopher Gramm sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $50.55, for a total transaction of $50,550.00. Following the completion of the sale, the insider now owns 40,765 shares in the company, valued at $2,060,670.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ASIX. First Trust Advisors LP lifted its stake in AdvanSix by 6.0% in the first quarter. First Trust Advisors LP now owns 83,861 shares of the company’s stock valued at $2,396,000 after buying an additional 4,767 shares during the last quarter. Royal Bank of Canada lifted its stake in AdvanSix by 57.6% in the second quarter. Royal Bank of Canada now owns 3,137 shares of the company’s stock valued at $94,000 after buying an additional 1,146 shares during the last quarter. Morgan Stanley lifted its stake in AdvanSix by 20.1% in the second quarter. Morgan Stanley now owns 214,355 shares of the company’s stock valued at $6,400,000 after buying an additional 35,930 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of AdvanSix by 12.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock worth $333,000 after purchasing an additional 954 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of AdvanSix by 13.5% during the third quarter. Deutsche Bank AG now owns 34,488 shares of the company’s stock worth $1,371,000 after purchasing an additional 4,090 shares during the last quarter. Institutional investors own 82.19% of the company’s stock.

AdvanSix Company Profile (Get Rating)

AdvanSix Inc manufactures and sells polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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