Hsbc Holdings PLC Makes New Investment in AdvanSix $ASIX

Hsbc Holdings PLC bought a new stake in AdvanSix (NYSE:ASIX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,119 shares of the company’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of 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 last quarter. AQR Capital Management LLC increased its position in AdvanSix by 35.7% during the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock worth $1,693,000 after purchasing an additional 19,668 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after purchasing an additional 604 shares during the last quarter. Creative Planning raised its stake in AdvanSix by 13.2% during the second quarter. Creative Planning now owns 11,961 shares of the company’s stock worth $284,000 after purchasing an additional 1,399 shares during the period. Finally, First Trust Advisors LP raised its stake in AdvanSix by 3.2% during the second quarter. First Trust Advisors LP now owns 120,113 shares of the company’s stock worth $2,853,000 after purchasing an additional 3,696 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ASIX shares. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised shares of AdvanSix to a “hold” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings cut AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AdvanSix presently has a consensus rating of “Reduce” and an average target price of $22.50.

AdvanSix Stock Down 1.6%

Shares of NYSE:ASIX opened at $20.68 on Thursday. The company has a market capitalization of $557.67 million, a price-to-earnings ratio of 55.91 and a beta of 1.30. AdvanSix has a 12-month low of $14.10 and a 12-month high of $26.73. The business has a 50-day moving average price of $21.25 and a 200 day moving average price of $20.50. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, May 8th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.02). AdvanSix had a return on equity of 2.18% and a net margin of 0.67%.The company had revenue of $404.18 million for the quarter, compared to analysts’ expectations of $364.90 million. Sell-side analysts expect that AdvanSix will post 0.85 EPS for the current year.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was 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 (DPR) is presently 172.97%.

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.