Lumbard & Kellner LLC Makes New $2.51 Million Investment in AdvanSix $ASIX

Lumbard & Kellner LLC acquired a new position in shares of AdvanSix (NYSE:ASIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 145,128 shares of the company’s stock, valued at approximately $2,511,000.

Several other large investors also recently added to or reduced their stakes in ASIX. Raymond James Financial Inc. bought a new stake in AdvanSix during the second quarter worth approximately $29,000. Osaic Holdings Inc. increased its stake 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 acquiring an additional 483 shares during the last quarter. Versant Capital Management Inc increased its stake 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 acquiring an additional 1,391 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake 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 acquiring an additional 2,203 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in AdvanSix by 144.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company’s stock worth $57,000 after acquiring an additional 1,408 shares during the last quarter. 86.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ASIX shares. Wall Street Zen raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Loop Capital set a $25.00 price objective on AdvanSix in a research note on Thursday, March 12th. Truist Financial boosted their price objective on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings raised AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.67.

AdvanSix Stock Down 4.9%

Shares of NYSE:ASIX opened at $23.93 on Friday. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73. The business has a 50 day simple moving average of $22.28 and a two-hundred day simple moving average of $18.96. The firm has a market capitalization of $645.18 million, a PE ratio of 13.22 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.13 and a quick ratio of 0.52.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The business had revenue of $404.18 million for the quarter, compared to analysts’ expectations of $364.90 million.

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, March 9th. AdvanSix’s payout ratio is 35.36%.

About AdvanSix

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.