42,168 Shares in AdvanSix $ASIX Bought by PDT Partners LLC

PDT Partners LLC bought a new stake in shares of AdvanSix (NYSE:ASIX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 42,168 shares of the company’s stock, valued at approximately $838,000.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in AdvanSix during the 2nd quarter worth about $29,000. Osaic Holdings Inc. lifted its holdings in shares of AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after buying an additional 483 shares during the period. Allworth Financial LP purchased a new stake in shares of AdvanSix in the second quarter worth about $40,000. Hantz Financial Services Inc. boosted 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 buying an additional 1,117 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after acquiring an additional 2,203 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Trading Down 1.1%

ASIX stock opened at $16.34 on Friday. The company’s 50-day simple moving average is $19.24 and its 200-day simple moving average is $20.79. The company has a quick ratio of 0.70, a current ratio of 1.28 and a debt-to-equity ratio of 0.35. AdvanSix has a 52-week low of $14.10 and a 52-week high of $26.73. The firm has a market cap of $441.29 million, a P/E ratio of -24.76 and a beta of 1.29.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. The business had revenue of $421.28 million during the quarter, compared to analysts’ expectations of $452.00 million. As a group, equities analysts forecast that AdvanSix will post -0.15 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 18th. AdvanSix’s dividend payout ratio (DPR) is presently -96.97%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ASIX. Truist Financial reduced their price target on AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Weiss Ratings lowered AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wall Street Zen cut shares of AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AdvanSix presently has an average rating of “Reduce” and an average price target of $21.50.

AdvanSix 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.