AdvanSix (ASIX) Shares Down 8%

AdvanSix Inc (NYSE:ASIX) shares traded down 8% during mid-day trading on Wednesday . The stock traded as low as $39.64 and last traded at $39.98. 799,607 shares traded hands during trading, an increase of 196% from the average session volume of 270,391 shares. The stock had previously closed at $43.46.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of AdvanSix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. BidaskClub downgraded AdvanSix from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. Finally, Cowen increased their price objective on AdvanSix from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 6th.

The firm has a market capitalization of $1,180.00 and a price-to-earnings ratio of 24.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.93 and a current ratio of 1.39.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. AdvanSix had a return on equity of 20.30% and a net margin of 3.64%. equities analysts anticipate that AdvanSix Inc will post 2.9 earnings per share for the current fiscal year.

In related news, Director Michael Marberry acquired 539 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was acquired at an average cost of $46.41 per share, for a total transaction of $25,014.99. Following the completion of the acquisition, the director now directly owns 16,420 shares of the company’s stock, valued at approximately $762,052.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 1,741 shares of company stock valued at $74,988 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ASIX. BlackRock Inc. boosted its position in AdvanSix by 27.9% during the second quarter. BlackRock Inc. now owns 4,055,127 shares of the company’s stock valued at $126,680,000 after acquiring an additional 884,435 shares during the last quarter. Teachers Advisors LLC boosted its position in AdvanSix by 922.2% during the second quarter. Teachers Advisors LLC now owns 308,758 shares of the company’s stock valued at $9,646,000 after acquiring an additional 278,553 shares during the last quarter. Vanguard Group Inc. boosted its position in AdvanSix by 16.1% during the second quarter. Vanguard Group Inc. now owns 1,806,649 shares of the company’s stock valued at $56,440,000 after acquiring an additional 250,688 shares during the last quarter. Northern Trust Corp boosted its position in AdvanSix by 126.4% during the second quarter. Northern Trust Corp now owns 382,623 shares of the company’s stock valued at $11,953,000 after acquiring an additional 213,652 shares during the last quarter. Finally, State Street Corp boosted its position in AdvanSix by 41.2% during the second quarter. State Street Corp now owns 717,873 shares of the company’s stock valued at $22,427,000 after acquiring an additional 209,636 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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AdvanSix Company Profile

AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.

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