Zacks Investment Research cut shares of AdvanSix (NYSE:ASIX) from a hold rating to a sell rating in a report published on Wednesday, December 20th.
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. “
ASIX has been the topic of a number of other reports. Cowen increased their price target on shares of AdvanSix from $40.00 to $46.00 and gave the company an outperform rating in a research report on Friday, October 6th. BidaskClub raised AdvanSix from a buy rating to a strong-buy rating in a research note on Saturday, September 23rd. Finally, ValuEngine lowered AdvanSix from a buy rating to a hold rating in a research note on Friday, December 1st.
AdvanSix (ASIX) opened at $43.15 on Wednesday. AdvanSix has a 52-week low of $20.88 and a 52-week high of $46.51. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.93 and a current ratio of 1.39. The company has a market cap of $1,310.00 and a P/E ratio of 27.14.
In related news, Director Michael Marberry acquired 539 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was purchased at an average price of $46.41 per share, with a total value of $25,014.99. Following the completion of the purchase, the director now owns 16,420 shares in the company, valued at approximately $762,052.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have bought 1,741 shares of company stock valued at $74,988. Insiders own 2.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in AdvanSix in the second quarter worth $100,000. Pacad Investment Ltd. raised its holdings in AdvanSix by 16.7% in the second quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock worth $109,000 after purchasing an additional 500 shares in the last quarter. Macquarie Group Ltd. bought a new position in AdvanSix in the third quarter worth $123,000. Pinebridge Investments L.P. raised its holdings in AdvanSix by 13.6% in the second quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock worth $141,000 after purchasing an additional 539 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in AdvanSix by 772.8% in the second quarter. Quantbot Technologies LP now owns 4,783 shares of the company’s stock worth $149,000 after purchasing an additional 4,235 shares in the last quarter. 71.30% of the stock is owned by institutional investors.
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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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