StockNews.com Downgrades AdvanSix (NYSE:ASIX) to Hold

AdvanSix (NYSE:ASIX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

ASIX has been the topic of several other reports. UBS Group set a $35.00 price objective on AdvanSix in a research note on Tuesday, March 18th. Piper Sandler lowered their price target on AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th.

AdvanSix Stock Performance

ASIX traded up $0.03 during trading on Monday, reaching $23.04. 149,817 shares of the company’s stock were exchanged, compared to its average volume of 130,759. The company has a market capitalization of $616.18 million, a P/E ratio of 14.31 and a beta of 1.73. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $28.48 and a 200 day moving average price of $29.24. AdvanSix has a fifty-two week low of $20.86 and a fifty-two week high of $33.00.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.40. The business had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. As a group, analysts predict that AdvanSix will post 4 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total value of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AdvanSix

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after purchasing an additional 153,686 shares in the last quarter. Oliver Luxxe Assets LLC bought a new position in AdvanSix in the 4th quarter valued at $1,403,000. Barclays PLC increased its stake in shares of AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after buying an additional 32,706 shares during the period. JPMorgan Chase & Co. raised its position in shares of AdvanSix by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock worth $3,177,000 after acquiring an additional 13,316 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of AdvanSix by 162.8% during the third quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock valued at $1,565,000 after acquiring an additional 31,915 shares during the period. 86.39% of the stock is owned by institutional investors.

About AdvanSix

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.