AdvanSix (NYSE:ASIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AdvanSix (NYSE:ASIX) from a hold rating to a buy rating in a research note issued to investors on Sunday.

ASIX has been the topic of a number of other reports. Truist Financial increased their price target on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.00.

AdvanSix Trading Up 0.6%

NYSE ASIX opened at $18.46 on Friday. The stock’s 50-day simple moving average is $17.66 and its two-hundred day simple moving average is $18.22. AdvanSix has a twelve month low of $14.10 and a twelve month high of $27.00. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $496.02 million, a price-to-earnings ratio of 10.20 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $359.95 million during 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%. Research analysts forecast that AdvanSix will post 4 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.16 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. AdvanSix’s dividend payout ratio (DPR) is currently 35.36%.

Institutional Investors Weigh In On AdvanSix

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of AdvanSix in the second quarter valued at about $29,000. Osaic Holdings Inc. boosted its holdings in shares of AdvanSix by 60.2% during the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after purchasing an additional 483 shares during the period. Hantz Financial Services Inc. grew its stake in shares of AdvanSix by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after purchasing an additional 1,117 shares during the last quarter. Versant Capital Management Inc increased its holdings in AdvanSix by 185.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock valued at $42,000 after purchasing an additional 1,391 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in AdvanSix by 27,537.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock valued at $43,000 after purchasing an additional 2,203 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

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.