Zacks Investment Research upgraded shares of AdvanSix (NYSE:ASIX) from a sell rating to a hold rating in a report published on Tuesday, January 2nd.
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 firms have also weighed in on ASIX. Cowen upped their price objective on shares of AdvanSix from $37.00 to $40.00 and gave the company an outperform rating in a research note on Wednesday, September 6th. BidaskClub upgraded shares of AdvanSix from a hold rating to a buy rating in a research note on Friday, September 15th. Finally, ValuEngine lowered shares of AdvanSix from a buy rating to a hold rating in a research note on Friday, December 1st.
Shares of AdvanSix (NYSE:ASIX) opened at $38.76 on Tuesday. The stock has a market cap of $1,218.71, a P/E ratio of 24.53 and a beta of 2.97. The company has a current ratio of 1.39, a quick ratio of 0.93 and a debt-to-equity ratio of 0.84. AdvanSix has a 1-year low of $23.88 and a 1-year high of $46.51.
AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. AdvanSix had a net margin of 3.64% and a return on equity of 20.30%. analysts forecast that AdvanSix will post 2.9 EPS for the current fiscal year.
In other AdvanSix news, Director Michael Marberry bought 539 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was bought at an average cost of $46.41 per share, with a total value of $25,014.99. Following the completion of the transaction, the director now directly owns 16,420 shares of the company’s stock, valued at approximately $762,052.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders acquired 1,741 shares of company stock worth $74,988. Company insiders own 2.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ASIX. Sei Investments Co. grew its position in AdvanSix by 69.4% in the second quarter. Sei Investments Co. now owns 15,836 shares of the company’s stock worth $494,000 after acquiring an additional 6,490 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in AdvanSix by 127.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 179,836 shares of the company’s stock worth $5,619,000 after acquiring an additional 100,842 shares in the last quarter. Rhumbline Advisers grew its position in AdvanSix by 43.5% in the second quarter. Rhumbline Advisers now owns 76,438 shares of the company’s stock worth $2,388,000 after acquiring an additional 23,167 shares in the last quarter. SG Americas Securities LLC bought a new stake in AdvanSix in the second quarter worth approximately $100,000. Finally, Bank of New York Mellon Corp grew its position in AdvanSix by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 348,848 shares of the company’s stock worth $10,899,000 after acquiring an additional 10,005 shares in the last quarter. 71.30% of the stock is owned by institutional investors.
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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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