AdvanSix (NYSE:ASIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AdvanSix (NYSE:ASIX) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other brokerages have also issued reports on ASIX. Piper Sandler set a $32.00 target price on AdvanSix in a research note on Monday, May 19th. UBS Group set a $35.00 price target on AdvanSix in a research report on Tuesday, March 18th.

AdvanSix Stock Performance

Shares of ASIX opened at $23.48 on Friday. The firm has a market cap of $629.57 million, a PE ratio of 14.58 and a beta of 1.59. The stock’s fifty day moving average price is $22.01 and its two-hundred day moving average price is $26.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. AdvanSix has a 1 year low of $18.44 and a 1 year high of $33.00.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Tuesday, May 13th. AdvanSix’s dividend payout ratio (DPR) is presently 20.51%.

Insider Activity

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total transaction of $88,960.00. Following the completion of the transaction, the senior vice president now directly owns 36,363 shares in the company, valued at $808,713.12. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASIX. Jones Financial Companies Lllp grew its position in AdvanSix by 599,160.0% during the first quarter. Jones Financial Companies Lllp now owns 389,519 shares of the company’s stock worth $8,823,000 after buying an additional 389,454 shares in the last quarter. Wellington Management Group LLP grew its position in AdvanSix by 43.5% during the fourth quarter. Wellington Management Group LLP now owns 673,885 shares of the company’s stock worth $19,199,000 after buying an additional 204,200 shares in the last quarter. Prudential Financial Inc. grew its position in AdvanSix by 90.2% during the fourth quarter. Prudential Financial Inc. now owns 402,250 shares of the company’s stock worth $11,460,000 after buying an additional 190,727 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in AdvanSix by 441.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company’s stock worth $6,248,000 after buying an additional 178,843 shares in the last quarter. Finally, LSV Asset Management grew its position in AdvanSix by 23.2% during the first quarter. LSV Asset Management now owns 601,247 shares of the company’s stock worth $13,618,000 after buying an additional 113,147 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

About AdvanSix

AdvanSix Inc engages in the manufacture and sale of 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, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.