Truist Financial Issues Positive Forecast for AdvanSix (NYSE:ASIX) Stock Price

AdvanSix (NYSE:ASIX) had its price objective increased by Truist Financial from $19.00 to $20.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

ASIX has been the topic of several other reports. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. Wall Street Zen raised shares of AdvanSix from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.00.

AdvanSix Stock Down 3.8%

NYSE:ASIX opened at $18.05 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The company has a market capitalization of $484.77 million, a price-to-earnings ratio of 9.97 and a beta of 1.73. AdvanSix has a one year low of $14.10 and a one year high of $30.38. The stock has a 50-day simple moving average of $17.47 and a 200 day simple moving average of $18.26.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $359.95 million for the quarter, compared to analysts’ expectations of $340.85 million. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%. Sell-side analysts predict that AdvanSix will post 4 EPS for the current fiscal year.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. AdvanSix’s payout ratio is 33.33%.

Institutional Trading of AdvanSix

Several hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AdvanSix in the fourth quarter valued at approximately $246,000. Empowered Funds LLC grew its holdings in AdvanSix by 10.8% in the 4th quarter. Empowered Funds LLC now owns 144,284 shares of the company’s stock worth $2,496,000 after buying an additional 14,084 shares in the last quarter. XTX Topco Ltd acquired a new stake in AdvanSix in the 4th quarter valued at approximately $443,000. Tudor Investment Corp ET AL acquired a new stake in AdvanSix in the 4th quarter valued at approximately $984,000. Finally, Polymer Capital Management US LLC acquired a new stake in AdvanSix in the 4th quarter valued at approximately $386,000. 86.39% of the stock is currently owned by institutional investors.

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.