AdvanSix (NYSE:ASIX) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of AdvanSix (NYSE:ASIXFree Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also recently weighed in on ASIX. Truist Financial increased their price target on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Weiss Ratings upgraded AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Finally, Loop Capital set a $25.00 price target on AdvanSix in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.67.

Check Out Our Latest Stock Analysis on ASIX

AdvanSix Stock Down 15.1%

Shares of ASIX opened at $20.32 on Friday. AdvanSix has a 52-week low of $14.10 and a 52-week high of $26.73. The company has a market capitalization of $547.80 million, a PE ratio of 54.92 and a beta of 1.33. The stock has a fifty day simple moving average of $22.28 and a two-hundred day simple moving average of $18.96. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26.

AdvanSix (NYSE:ASIXGet Free Report) last issued its earnings results on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The company had revenue of $404.18 million during the quarter, compared to analyst estimates of $364.90 million. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. AdvanSix’s dividend payout ratio is currently 35.36%.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently bought and sold shares of ASIX. Royal Bank of Canada boosted its holdings in AdvanSix by 23.2% during the 1st quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock valued at $430,000 after acquiring an additional 3,575 shares during the period. AQR Capital Management LLC boosted its holdings in AdvanSix by 35.7% during the 1st quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock valued at $1,693,000 after acquiring an additional 19,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AdvanSix by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after acquiring an additional 604 shares during the period. Creative Planning boosted its holdings in AdvanSix by 13.2% during the 2nd quarter. Creative Planning now owns 11,961 shares of the company’s stock valued at $284,000 after acquiring an additional 1,399 shares during the period. Finally, First Trust Advisors LP boosted its holdings in AdvanSix by 3.2% during the 2nd quarter. First Trust Advisors LP now owns 120,113 shares of the company’s stock valued at $2,853,000 after acquiring an additional 3,696 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix News Summary

Here are the key news stories impacting AdvanSix this week:

AdvanSix Company Profile

(Get Free Report)

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.

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