AdvanSix (NYSE:ASIX) Stock Gets Price Target Trim from Truist Financial

AdvanSix (NYSE:ASIX) had its price objective lowered by Truist Financial from $18.00 to $16.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wall Street Zen downgraded shares of AdvanSix from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $20.50.

AdvanSix Stock Performance

Shares of NYSE ASIX opened at $15.38 on Monday. The stock’s 50-day simple moving average is $16.19 and its 200-day simple moving average is $19.38. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $26.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.20 and a quick ratio of 0.70.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.20). The business had revenue of $430.81 million during the quarter, compared to analyst estimates of $426.00 million. AdvanSix had a negative net margin of 1.40% and a negative return on equity of 2.29%. Equities research analysts forecast that AdvanSix will post -0.15 EPS for the current year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.2%. AdvanSix’s dividend payout ratio is -76.19%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in AdvanSix in the second quarter valued at approximately $48,517,000. Dimensional Fund Advisors LP boosted its holdings in shares of AdvanSix by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company’s stock valued at $31,988,000 after acquiring an additional 8,131 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of 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 acquiring an additional 319,528 shares during the last quarter. Solas Capital Management LLC grew its position in shares of AdvanSix by 10.5% during the second quarter. Solas Capital Management LLC now owns 571,324 shares of the company’s stock worth $11,358,000 after acquiring an additional 54,295 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of AdvanSix during the second quarter worth approximately $6,017,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

About AdvanSix

AdvanSix Inc. is an integrated chemicals manufacturer that produces nylon 6 and the materials used to make it, including caprolactam. Its nylon 6 products serve applications in packaging, automotive components, carpet and other industrial and consumer products. The company also makes ammonium sulfate, which is used as a fertilizer, along with phenol, acetone and other chemical intermediates. Its integrated production operations connect these products across several stages of the chemical manufacturing process.