Empowered Funds LLC acquired a new stake in AdvanSix (NYSE:ASIX – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 302,687 shares of the company’s stock, valued at approximately $6,017,000.
Other institutional investors also recently modified their holdings of the company. Lumbard & Kellner LLC acquired a new stake in AdvanSix in the 4th quarter valued at about $2,511,000. Donald Smith & CO. Inc. acquired a new position in AdvanSix during the second quarter worth approximately $4,228,000. Arrowstreet Capital Limited Partnership increased its position in AdvanSix by 78.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company’s stock worth $17,770,000 after buying an additional 319,528 shares during the last quarter. UBS Group AG raised its stake in AdvanSix by 23.0% in the fourth quarter. UBS Group AG now owns 141,875 shares of the company’s stock valued at $2,454,000 after buying an additional 26,564 shares during the period. Finally, Solas Capital Management LLC bought a new stake in AdvanSix in the second quarter valued at approximately $11,358,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently commented on ASIX. Weiss Ratings downgraded AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research upgraded AdvanSix to a “hold” rating in a research note on Tuesday, May 12th. Finally, Truist Financial decreased their price objective on shares of AdvanSix from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $21.50.
AdvanSix Stock Performance
ASIX opened at $16.53 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70. The business has a fifty day simple moving average of $19.17 and a 200 day simple moving average of $20.78. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73. The company has a market capitalization of $446.31 million, a PE ratio of -25.05 and a beta of 1.29.
AdvanSix (NYSE:ASIX – Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $421.28 million for the quarter, compared to the consensus estimate of $452.00 million. AdvanSix had a negative return on equity of 1.28% and a negative net margin of 1.14%. Research analysts expect that AdvanSix will post -0.15 EPS for the current 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 paid a $0.16 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.64 annualized dividend and a yield of 3.9%. AdvanSix’s payout ratio is -96.97%.
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.
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