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

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

Other analysts have also recently issued reports about the stock. UBS Group set a $35.00 price objective on shares of AdvanSix in a research note on Tuesday, March 18th. Piper Sandler reduced their price objective on AdvanSix from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th.

AdvanSix Stock Down 1.8 %

Shares of NYSE:ASIX opened at $22.64 on Monday. The company has a market cap of $605.48 million, a price-to-earnings ratio of 14.06 and a beta of 1.73. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $28.33 and a 200 day moving average price of $29.21. AdvanSix has a 12 month low of $20.86 and a 12 month high of $33.00.

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

Insiders Place Their Bets

In other AdvanSix 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 transaction, the chief executive officer now owns 502,795 shares in the company, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASIX. Inspire Investing LLC grew its holdings in AdvanSix by 2.5% in the 4th quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock valued at $445,000 after buying an additional 387 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of AdvanSix by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 135,127 shares of the company’s stock worth $3,850,000 after acquiring an additional 450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AdvanSix by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,543 shares of the company’s stock worth $414,000 after purchasing an additional 508 shares during the period. Sheets Smith Wealth Management raised its holdings in AdvanSix by 3.7% in the fourth quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock valued at $449,000 after acquiring an additional 569 shares in the last quarter. Finally, Nilsine Partners LLC lifted its stake in AdvanSix by 3.1% in the fourth quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock worth $606,000 after acquiring an additional 650 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.