Zacks Investment Research downgraded shares of AdvanSix (NYSE:ASIX) from a hold rating to a sell rating in a report issued on Tuesday.
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. “
Several other research analysts have also issued reports on the company. Cowen raised their price target on AdvanSix from $40.00 to $46.00 and gave the stock an outperform rating in a research report on Friday, October 6th. BidaskClub lowered AdvanSix from a strong-buy rating to a buy rating in a research report on Friday, November 10th. Finally, ValuEngine lowered AdvanSix from a buy rating to a hold rating in a research report on Friday, December 1st.
AdvanSix (NYSE:ASIX) opened at $41.08 on Tuesday. AdvanSix has a 12-month low of $20.54 and a 12-month high of $46.51. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.39 and a quick ratio of 0.93. The stock has a market capitalization of $1,251.33, a price-to-earnings ratio of 24.58 and a beta of 2.84.
In related news, Director Michael Marberry purchased 539 shares of AdvanSix stock in a transaction dated Wednesday, November 1st. The shares were acquired at an average cost of $46.41 per share, for a total transaction of $25,014.99. Following the transaction, the director now directly owns 16,420 shares of the company’s stock, valued at $762,052.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 2,366 shares of company stock worth $99,944 over the last 90 days. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ASIX. SG Americas Securities LLC acquired a new stake in AdvanSix during the 2nd quarter worth $100,000. Pacad Investment Ltd. raised its stake in AdvanSix by 16.7% during the 2nd quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock worth $109,000 after buying an additional 500 shares during the period. Macquarie Group Ltd. acquired a new stake in AdvanSix during the 3rd quarter worth $123,000. Pinebridge Investments L.P. raised its stake in AdvanSix by 13.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock worth $141,000 after buying an additional 539 shares during the period. Finally, Quantbot Technologies LP raised its stake in AdvanSix by 772.8% during the 2nd quarter. Quantbot Technologies LP now owns 4,783 shares of the company’s stock worth $149,000 after buying an additional 4,235 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.
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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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