AdvanSix (NYSE:ASIX) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a report released on Monday.

ASIX has been the topic of a number of other reports. Piper Sandler decreased their price objective on AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. UBS Group set a $35.00 price target on AdvanSix in a report on Tuesday, March 18th.

AdvanSix Stock Performance

NYSE:ASIX opened at $22.82 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. The firm’s 50-day moving average is $28.17 and its 200-day moving average is $29.17. AdvanSix has a 52-week low of $20.86 and a 52-week high of $33.00. The company has a market cap of $610.41 million, a price-to-earnings ratio of 14.18 and a beta of 1.73.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. The firm had revenue of $329.06 million for the quarter, compared to the consensus estimate of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. Equities research analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, March 10th. AdvanSix’s dividend payout ratio is presently 39.75%.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $28.15, for a total value of $140,750.00. Following the completion of the transaction, the chief executive officer now directly owns 507,795 shares of the company’s stock, valued at approximately $14,294,429.25. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

Several large investors have recently modified their holdings of ASIX. Wellington Management Group LLP grew its stake in shares of AdvanSix by 43.5% in the fourth quarter. Wellington Management Group LLP now owns 673,885 shares of the company’s stock valued at $19,199,000 after acquiring an additional 204,200 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in AdvanSix in the 4th quarter valued at about $2,803,000. Public Employees Retirement System of Ohio grew its position in shares of AdvanSix by 29.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,847 shares of the company’s stock worth $224,000 after purchasing an additional 1,780 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AdvanSix by 29.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,279 shares of the company’s stock worth $2,031,000 after purchasing an additional 16,078 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of AdvanSix by 116.5% in the fourth quarter. Two Sigma Investments LP now owns 15,074 shares of the company’s stock valued at $429,000 after buying an additional 8,112 shares in the last quarter. 86.39% of the stock is owned by institutional investors.

AdvanSix Company Profile

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.