Y Intercept Hong Kong Ltd Reduces Holdings in AdvanSix $ASIX

Y Intercept Hong Kong Ltd decreased its position in shares of AdvanSix (NYSE:ASIX) by 73.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 47,302 shares of the company’s stock after selling 132,787 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.18% of AdvanSix worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ASIX. Osaic Holdings Inc. boosted its position in AdvanSix by 60.2% during the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after purchasing an additional 483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AdvanSix by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after purchasing an additional 604 shares during the period. Sheets Smith Wealth Management lifted its stake in shares of AdvanSix by 3.8% during the 4th quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock valued at $309,000 after buying an additional 659 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of AdvanSix by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock valued at $234,000 after buying an additional 746 shares in the last quarter. Finally, Mariner LLC boosted its holdings in AdvanSix by 10.2% in the 4th quarter. Mariner LLC now owns 11,065 shares of the company’s stock worth $191,000 after buying an additional 1,023 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ASIX. Zacks Research raised shares of AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings cut AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen lowered AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AdvanSix has a consensus rating of “Reduce” and an average price target of $22.50.

AdvanSix Price Performance

ASIX stock traded up $0.39 during midday trading on Friday, reaching $20.35. The company had a trading volume of 205,930 shares, compared to its average volume of 244,277. The firm has a 50-day moving average price of $21.51 and a 200-day moving average price of $20.39. The company has a market capitalization of $548.64 million, a P/E ratio of 55.00 and a beta of 1.30. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 0.68.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The company had revenue of $404.18 million for the quarter, compared to the consensus estimate of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. On average, research analysts anticipate that AdvanSix will post 0.85 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, May 19th. AdvanSix’s dividend payout ratio (DPR) is currently 172.97%.

AdvanSix Company Profile

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.