AdvanSix $ASIX Shares Purchased by CenterBook Partners LP

CenterBook Partners LP raised its position in AdvanSix (NYSE:ASIX) by 58.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,550 shares of the company’s stock after acquiring an additional 79,866 shares during the quarter. CenterBook Partners LP’s holdings in AdvanSix were worth $3,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ASIX. BlackRock Inc. bought a new position in shares of AdvanSix in the 2nd quarter valued at about $48,517,000. Dimensional Fund Advisors LP raised its holdings in shares of AdvanSix by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company’s stock valued at $31,988,000 after purchasing an additional 8,131 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in AdvanSix by 78.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company’s stock valued at $17,770,000 after purchasing an additional 319,528 shares during the last quarter. Solas Capital Management LLC lifted its stake in AdvanSix by 10.5% in the 2nd quarter. Solas Capital Management LLC now owns 571,324 shares of the company’s stock valued at $11,358,000 after purchasing an additional 54,295 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in AdvanSix in the 2nd quarter valued at about $6,017,000. Institutional investors own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ASIX shares. Truist Financial reduced their price target on AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, August 10th. Weiss Ratings lowered AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Finally, Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $21.50.

AdvanSix Stock Performance

ASIX opened at $16.72 on Friday. The business has a fifty day simple moving average of $16.26 and a 200 day simple moving average of $19.40. The company has a market capitalization of $451.41 million, a PE ratio of -19.90 and a beta of 1.27. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.20 and a quick ratio of 0.70.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.20). The firm had revenue of $430.81 million for the quarter, compared to the consensus estimate of $426.00 million. AdvanSix had a negative return on equity of 2.29% and a negative net margin of 1.40%. Research analysts expect that AdvanSix will post -0.15 EPS for the current year.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, November 17th. AdvanSix’s payout ratio is presently -96.97%.

AdvanSix Company Profile

AdvanSix Inc (NYSE:ASIX) is a diversified chemistry company that manufactures and sells polymer resins, chemical intermediates and performance products. Its portfolio includes nylon 6 resin, caprolactam, ammonium sulfate fertilizer, acetone and other chemical products used in a range of industrial and consumer applications.

The company’s nylon 6 products are used in fibers, engineered plastics, films, automotive components, electrical and electronics products, and other applications. Its chemical intermediates support the production of coatings, adhesives, solvents and other materials, while its ammonium sulfate products are marketed as nitrogen and sulfur fertilizers for agricultural use.

AdvanSix was established as an independent, publicly traded company in 2016 following its separation from Honeywell International.