AdvanSix (NYSE:ASIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AdvanSix (NYSE:ASIX) from a sell rating to a hold rating in a report issued on Saturday.

A number of other research analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. Truist Financial started coverage on AdvanSix in a report on Thursday, January 15th. They issued a “hold” rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.00.

AdvanSix Trading Down 3.8%

NYSE ASIX opened at $18.05 on Friday. The firm’s fifty day moving average is $17.47 and its two-hundred day moving average is $18.26. AdvanSix has a one year low of $14.10 and a one year high of $30.38. 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 firm has a market cap of $484.77 million, a PE ratio of 9.97 and a beta of 1.73.

AdvanSix (NYSE:ASIX) last announced its earnings results 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. The business had revenue of $359.95 million during the quarter, compared to the consensus estimate of $340.85 million. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. Analysts expect that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, March 9th. AdvanSix’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently modified their holdings of ASIX. Raymond James Financial Inc. purchased a new stake in shares of AdvanSix during the 2nd quarter worth approximately $29,000. Osaic Holdings Inc. raised its holdings in AdvanSix by 60.2% during the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after purchasing an additional 483 shares during the last quarter. Versant Capital Management Inc boosted its position in AdvanSix by 185.2% during the third quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock worth $42,000 after purchasing an additional 1,391 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after purchasing an additional 2,203 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in AdvanSix by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock valued at $41,000 after purchasing an additional 1,117 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.