AdvanSix (NYSE:ASIX) Lowered to Hold at 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 research 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 raised AdvanSix from a “c-” rating to a “b-” rating in a research report on Friday, February 19th.

NYSE:ASIX traded up $0.63 during mid-day trading on Tuesday, reaching $32.25. 232,143 shares of the stock were exchanged, compared to its average volume of 223,395. The company has a 50 day simple moving average of $28.17 and a 200-day simple moving average of $22.91. The stock has a market capitalization of $904.10 million, a P/E ratio of 52.02 and a beta of 1.84. The company has a quick ratio of 0.53, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. AdvanSix has a 1 year low of $9.76 and a 1 year high of $32.31.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data 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, research analysts predict that AdvanSix will post 1.22 EPS for the current year.

In other news, SVP Willem L. Blindenbach sold 3,675 shares of the firm’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $27.84, for a total value of $102,312.00. Following the completion of the sale, the senior vice president now directly owns 26,685 shares of the company’s stock, valued at approximately $742,910.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,075 shares of company stock valued at $113,226 over the last three months. Insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in AdvanSix by 81.8% in the 1st quarter. Victory Capital Management Inc. now owns 37,024 shares of the company’s stock valued at $993,000 after purchasing an additional 16,657 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AdvanSix by 98.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,235 shares of the company’s stock valued at $87,000 after purchasing an additional 1,606 shares in the last quarter. Meeder Asset Management Inc. increased its stake in AdvanSix by 10,477.9% in the 1st quarter. Meeder Asset Management Inc. now owns 8,145 shares of the company’s stock valued at $217,000 after purchasing an additional 8,068 shares in the last quarter. Parsons Capital Management Inc. RI purchased a new position in AdvanSix in the 1st quarter valued at approximately $362,000. Finally, Denali Advisors LLC increased its stake in AdvanSix by 17.2% in the 1st quarter. Denali Advisors LLC now owns 101,662 shares of the company’s stock valued at $2,727,000 after purchasing an additional 14,900 shares in the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.

AdvanSix Company Profile

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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