AdvanSix (NYSE:ASIX) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of AdvanSix (NYSE:ASIX) from a hold rating to a sell rating in a report published on Friday.

ASIX has been the subject of a number of other research reports. Truist Financial started coverage on shares of AdvanSix in a report on Thursday, January 15th. They set a “hold” rating and a $19.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.67.

AdvanSix Price Performance

Shares of NYSE ASIX opened at $17.06 on Friday. The business has a fifty day moving average price of $16.46 and a two-hundred day moving average price of $18.86. The stock has a market capitalization of $458.12 million, a PE ratio of 8.88 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.36 and a quick ratio of 0.74. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $32.58.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32). AdvanSix had a return on equity of 7.14% and a net margin of 3.52%.The company had revenue of $374.47 million during the quarter, compared to the consensus estimate of $365.00 million. As a group, equities analysts predict that AdvanSix will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, November 18th. AdvanSix’s payout ratio is presently 33.33%.

Institutional Investors Weigh In On AdvanSix

Several hedge funds have recently modified their holdings of ASIX. Deprince Race & Zollo Inc. raised its position in AdvanSix by 15.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 293,768 shares of the company’s stock valued at $5,082,000 after purchasing an additional 38,611 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of AdvanSix by 3.8% in the fourth quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock valued at $309,000 after buying an additional 659 shares during the period. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in AdvanSix during the 4th quarter worth approximately $702,000. SG Americas Securities LLC boosted its position in AdvanSix by 1,145.9% during the 4th quarter. SG Americas Securities LLC now owns 67,812 shares of the company’s stock worth $1,173,000 after buying an additional 62,369 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in AdvanSix by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,116 shares of the company’s stock worth $1,398,000 after acquiring an additional 4,367 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

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.