Lazard Asset Management LLC Has $1.76 Million Stock Holdings in AdvanSix Inc. (NYSE:ASIX)

Lazard Asset Management LLC lifted its holdings in shares of AdvanSix Inc. (NYSE:ASIX) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,729 shares of the company’s stock after purchasing an additional 18,723 shares during the quarter. Lazard Asset Management LLC owned approximately 0.23% of AdvanSix worth $1,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ASIX. AlphaQuest LLC acquired a new position in AdvanSix during the fourth quarter worth $94,000. KLP Kapitalforvaltning AS bought a new stake in shares of AdvanSix during the 4th quarter worth about $137,000. BOKF NA acquired a new position in shares of AdvanSix during the 4th quarter valued at about $217,000. GeoWealth Management LLC bought a new position in shares of AdvanSix in the 4th quarter valued at approximately $221,000. Finally, Foundations Investment Advisors LLC acquired a new stake in AdvanSix in the 4th quarter worth approximately $223,000. Institutional investors own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

ASIX has been the topic of several analyst reports. Piper Sandler downgraded AdvanSix from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $26.00 in a report on Monday, April 7th. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, UBS Group set a $35.00 target price on shares of AdvanSix in a research report on Tuesday, March 18th.

AdvanSix Stock Performance

ASIX opened at $23.49 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $21.93 and its two-hundred day moving average price is $27.03. The firm has a market capitalization of $629.70 million, a P/E ratio of 14.59 and a beta of 1.59. AdvanSix Inc. has a 12-month low of $18.44 and a 12-month high of $33.00.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.40. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. The business had revenue of $329.06 million for the quarter, compared to the consensus estimate of $377.15 million. On average, equities analysts forecast that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.73%. AdvanSix’s payout ratio is 20.51%.

Insider Activity

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the transaction, the senior vice president now directly owns 36,363 shares in the company, valued at approximately $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of 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, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.