PDT Partners LLC Acquires New Holdings in AdvanSix $ASIX

PDT Partners LLC bought a new stake in shares of AdvanSix (NYSE:ASIX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 42,168 shares of the company’s stock, valued at approximately $838,000. PDT Partners LLC owned approximately 0.16% of AdvanSix at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in AdvanSix by 23.2% in the first quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock valued at $430,000 after purchasing an additional 3,575 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of AdvanSix by 35.7% during the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock valued at $1,693,000 after buying an additional 19,668 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AdvanSix by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after buying an additional 604 shares in the last quarter. Creative Planning boosted its holdings in shares of AdvanSix by 13.2% in the 2nd quarter. Creative Planning now owns 11,961 shares of the company’s stock valued at $284,000 after buying an additional 1,399 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of AdvanSix by 3.2% in the 2nd quarter. First Trust Advisors LP now owns 120,113 shares of the company’s stock worth $2,853,000 after buying an additional 3,696 shares during the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix Stock Performance

Shares of ASIX stock opened at $16.34 on Friday. The firm has a market capitalization of $441.29 million, a price-to-earnings ratio of -24.76 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70. The business has a fifty day moving average of $19.24 and a 200 day moving average of $20.79. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). The firm had revenue of $421.28 million for the quarter, compared to analysts’ expectations of $452.00 million. AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. As a group, research analysts expect that AdvanSix will post -0.15 earnings per share for the current year.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a $0.16 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.64 dividend on an annualized basis and a yield of 3.9%. AdvanSix’s dividend payout ratio is currently -96.97%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research raised AdvanSix to a “hold” rating in a research report on Tuesday, May 12th. Truist Financial dropped their target price on AdvanSix from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Wall Street Zen cut AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $21.50.

AdvanSix 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.