AdvanSix (NYSE:ASIX) Downgraded by Zacks Investment Research


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AdvanSix (NYSE:ASIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “

Separately, TheStreet upgraded AdvanSix from a “c-” rating to a “b-” rating in a research note on Friday, February 19th.

ASIX stock traded up $0.63 during midday trading on Tuesday, reaching $32.25. The company’s stock had a trading volume of 232,143 shares, compared to its average volume of 223,395. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.53 and a current ratio of 1.22. The stock has a fifty day simple moving average of $28.17 and a two-hundred day simple moving average of $22.91. AdvanSix has a 1 year low of $9.76 and a 1 year high of $32.31. The firm has a market capitalization of $904.10 million, a price-to-earnings ratio of 52.02 and a beta of 1.84.

AdvanSix (NYSE:ASIX) last released its earnings results on Thursday, April 29th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.26. AdvanSix had a return on equity of 4.17% and a net margin of 1.50%. As a group, analysts forecast that AdvanSix will post 1.22 EPS for the current fiscal year.

In other news, SVP Willem L. Blindenbach sold 3,675 shares of the firm’s stock in a transaction on Friday, April 9th. The stock was sold at an average price of $27.84, for a total transaction of $102,312.00. Following the transaction, the senior vice president now owns 26,685 shares in the company, valued at $742,910.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 4,075 shares of company stock worth $113,226. Insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Clarus Group Inc. purchased a new position in AdvanSix in the first quarter valued at about $4,887,000. Royce & Associates LP acquired a new stake in AdvanSix in the fourth quarter worth about $3,367,000. Brandywine Global Investment Management LLC acquired a new stake in AdvanSix in the fourth quarter worth about $445,000. UBS Asset Management Americas Inc. boosted its holdings in AdvanSix by 62.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 28,561 shares of the company’s stock worth $571,000 after acquiring an additional 11,020 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in AdvanSix by 8.2% in the fourth quarter. New York State Common Retirement Fund now owns 53,800 shares of the company’s stock worth $1,075,000 after acquiring an additional 4,100 shares in the last quarter. Institutional investors own 82.34% of the company’s stock.

About AdvanSix

AdvanSix Inc manufactures and sells 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 other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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