AdvanSix (NYSE:ASIX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of AdvanSix (NYSE:ASIX) to a hold rating in a research note published on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on ASIX. Weiss Ratings upgraded shares of AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Loop Capital set a $25.00 price objective on shares of AdvanSix in a research report on Thursday, March 12th. Finally, Truist Financial boosted their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.67.

AdvanSix Price Performance

Shares of NYSE:ASIX opened at $22.38 on Tuesday. The stock has a market cap of $603.47 million, a PE ratio of 60.50 and a beta of 1.33. The company’s fifty day moving average is $22.59 and its 200 day moving average is $19.03. AdvanSix has a 52 week low of $14.10 and a 52 week high of $26.73. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, May 8th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The business had revenue of $404.18 million during the quarter, compared to analysts’ expectations of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. Research analysts anticipate that AdvanSix will post 0.89 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.64 dividend on an annualized basis and a yield of 2.9%. AdvanSix’s dividend payout ratio is 172.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASIX. Sei Investments Co. increased its holdings in AdvanSix by 115.2% during the first quarter. Sei Investments Co. now owns 81,461 shares of the company’s stock valued at $1,988,000 after buying an additional 43,600 shares during the last quarter. Group One Trading LLC purchased a new stake in AdvanSix during the first quarter valued at approximately $61,000. State of Wyoming increased its holdings in AdvanSix by 3,612.1% during the first quarter. State of Wyoming now owns 12,547 shares of the company’s stock valued at $306,000 after buying an additional 12,209 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in AdvanSix by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company’s stock valued at $31,988,000 after buying an additional 8,131 shares during the last quarter. Finally, Waterfront Wealth Inc. increased its holdings in AdvanSix by 36.7% during the first quarter. Waterfront Wealth Inc. now owns 91,905 shares of the company’s stock valued at $2,242,000 after buying an additional 24,655 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

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.