Zacks Investment Research upgraded shares of AdvanSix (NYSE:ASIX) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “
Other analysts have also issued reports about the company. BidaskClub lowered AdvanSix from a strong-buy rating to a buy rating in a research report on Friday, November 10th. ValuEngine lowered AdvanSix from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Cowen lifted their price objective on AdvanSix from $37.00 to $40.00 and gave the stock an outperform rating in a research report on Wednesday, September 6th.
AdvanSix (NYSE ASIX) opened at $43.08 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.84. AdvanSix has a twelve month low of $20.88 and a twelve month high of $46.51. The stock has a market capitalization of $1,320.00 and a PE ratio of 27.09.
In other news, Director Michael Marberry acquired 539 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was purchased at an average cost of $46.41 per share, for a total transaction of $25,014.99. Following the completion of the transaction, the director now directly owns 16,420 shares in the company, valued at $762,052.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders purchased 1,741 shares of company stock valued at $74,988. Corporate insiders own 2.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ASIX. UBS Asset Management Americas Inc. grew its position in shares of AdvanSix by 5.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 9,132 shares of the company’s stock worth $285,000 after buying an additional 498 shares during the period. Pacad Investment Ltd. grew its position in shares of AdvanSix by 16.7% during the 2nd quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock worth $109,000 after buying an additional 500 shares during the period. Pinebridge Investments L.P. grew its position in shares of AdvanSix by 13.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock worth $141,000 after buying an additional 539 shares during the period. Symphony Asset Management LLC grew its position in shares of AdvanSix by 4.1% during the 2nd quarter. Symphony Asset Management LLC now owns 20,063 shares of the company’s stock worth $627,000 after buying an additional 784 shares during the period. Finally, AGF Investments Inc. grew its position in shares of AdvanSix by 1.7% during the 2nd quarter. AGF Investments Inc. now owns 65,603 shares of the company’s stock worth $2,050,000 after buying an additional 1,111 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.
AdvanSix Company Profile
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AdvanSix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AdvanSix and related companies with MarketBeat.com's FREE daily email newsletter.