AdvanSix (NYSE:ASIX) Given a $52.00 Price Target at Piper Sandler

Piper Sandler set a $52.00 target price on AdvanSix (NYSE:ASIXGet Rating) in a research report report published on Wednesday, Stock Target Advisor reports.

Separately, upgraded shares of AdvanSix from a buy rating to a strong-buy rating in a report on Wednesday, November 16th.

AdvanSix Stock Performance

Shares of ASIX opened at $40.95 on Wednesday. AdvanSix has a 52-week low of $30.69 and a 52-week high of $57.10. The company has a quick ratio of 0.68, a current ratio of 1.14 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $35.23 and a 200 day moving average price of $37.52. The firm has a market capitalization of $1.13 billion, a PE ratio of 7.41 and a beta of 1.78.

AdvanSix (NYSE:ASIXGet Rating) last posted its quarterly earnings data on Friday, November 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.15. AdvanSix had a net margin of 8.23% and a return on equity of 24.18%. The company had revenue of $478.77 million during the quarter, compared to analyst estimates of $463.47 million. On average, sell-side analysts anticipate that AdvanSix will post 6.39 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, November 14th. AdvanSix’s payout ratio is 10.49%.

Insider Transactions at AdvanSix

In other news, insider Christopher Gramm sold 1,000 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $32.55, for a total value of $32,550.00. Following the completion of the sale, the insider now directly owns 34,954 shares of the company’s stock, valued at $1,137,752.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 3,000 shares of company stock valued at $106,770 over the last three months. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in AdvanSix by 5.3% during the third quarter. Vanguard Group Inc. now owns 2,412,703 shares of the company’s stock valued at $77,447,000 after acquiring an additional 121,556 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of AdvanSix by 8.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,506,997 shares of the company’s stock valued at $48,375,000 after purchasing an additional 111,438 shares during the period. State Street Corp raised its position in shares of AdvanSix by 2.2% in the second quarter. State Street Corp now owns 976,269 shares of the company’s stock valued at $32,646,000 after purchasing an additional 20,914 shares during the period. Alliancebernstein L.P. raised its position in shares of AdvanSix by 32.6% in the third quarter. Alliancebernstein L.P. now owns 967,840 shares of the company’s stock valued at $31,068,000 after purchasing an additional 237,798 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of AdvanSix by 6.6% in the second quarter. Victory Capital Management Inc. now owns 635,433 shares of the company’s stock valued at $21,248,000 after purchasing an additional 39,156 shares during the period. Institutional investors own 83.87% of the company’s stock.

AdvanSix Company Profile

(Get Rating)

AdvanSix Inc manufactures and sells 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, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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