AdvanSix (NYSE:ASIX) Lowered to Hold Rating by StockNews.com

AdvanSix (NYSE:ASIX - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Monday.

Several other research analysts have also commented on ASIX. UBS Group set a $35.00 price objective on shares of AdvanSix in a research note on Tuesday, March 18th. Piper Sandler decreased their price target on AdvanSix from $39.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th.

AdvanSix Trading Down 2.8 %

Shares of NYSE:ASIX traded down $0.64 during trading hours on Monday, hitting $22.43. 41,274 shares of the company's stock traded hands, compared to its average volume of 144,956. The business has a fifty day moving average price of $28.02 and a 200-day moving average price of $29.13. AdvanSix has a 1 year low of $20.86 and a 1 year high of $33.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. The firm has a market capitalization of $599.73 million, a P/E ratio of 13.93 and a beta of 1.73.

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

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Insider Activity at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the transaction, the chief executive officer now directly owns 502,795 shares in the company, valued at $15,179,381.05. The trade was a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On AdvanSix

Institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company's stock worth $17,195,000 after purchasing an additional 261,964 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of AdvanSix by 43.5% during the 4th quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock worth $19,199,000 after purchasing an additional 204,200 shares during the last quarter. Prudential Financial Inc. raised its position in shares of AdvanSix by 90.2% in the fourth quarter. Prudential Financial Inc. now owns 402,250 shares of the company's stock valued at $11,460,000 after buying an additional 190,727 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AdvanSix by 441.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company's stock worth $6,248,000 after acquiring an additional 178,843 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of AdvanSix by 15.8% during the 4th quarter. American Century Companies Inc. now owns 740,028 shares of the company's stock worth $21,083,000 after purchasing an additional 100,841 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Company Profile

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.