AdvanSix (NYSE:ASIX) Given New $35.00 Price Target at Piper Sandler

by · The Cerbat Gem

AdvanSix (NYSE:ASIX – Free Report) had its target price reduced by Piper Sandler from $39.00 to $35.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

Read Our Latest Stock Report on ASIX

AdvanSix Stock Performance

Shares of ASIX opened at $23.33 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. AdvanSix has a twelve month low of $20.86 and a twelve month high of $33.00. The firm’s 50 day moving average price is $28.67 and its two-hundred day moving average price is $29.30. The firm has a market cap of $623.94 million, a P/E ratio of 14.49 and a beta of 1.73.

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

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Monday, March 10th. AdvanSix’s dividend payout ratio is presently 39.75%.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the transaction, the chief executive officer now directly owns 502,795 shares in the company, valued at approximately $15,179,381.05. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AdvanSix

A number of institutional investors have recently added to or reduced their stakes in ASIX. FMR LLC increased its holdings in AdvanSix by 86.2% during the third quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after buying an additional 261,964 shares during the last quarter. Wellington Management Group LLP increased its holdings in AdvanSix by 43.5% during the fourth quarter. Wellington Management Group LLP now owns 673,885 shares of the company’s stock worth $19,199,000 after buying an additional 204,200 shares during the last quarter. Prudential Financial Inc. increased its holdings in AdvanSix by 90.2% during the fourth quarter. Prudential Financial Inc. now owns 402,250 shares of the company’s stock worth $11,460,000 after buying an additional 190,727 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings 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 buying an additional 178,843 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of AdvanSix by 15.8% in the fourth quarter. American Century Companies Inc. now owns 740,028 shares of the company’s stock valued at $21,083,000 after purchasing an additional 100,841 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

AdvanSix Company Profile

(Get Free Report)

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.

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