AdvanSix (NYSE:ASIX) Downgraded by Wall Street Zen to "Buy"

Key Points

• AdvanSix (NYSE:ASIX) has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen.
• Piper Sandler has set a target price of $32.00 for AdvanSix shares.
• Shares of AdvanSix saw a 4.5% decline, with current trading at $19.21 and a market cap of $515.02 million.

Wall Street Zen lowered shares of AdvanSix (NYSE:ASIX - Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Separately, Piper Sandler set a $32.00 price target on shares of AdvanSix in a research report on Monday, May 19th.

AdvanSix Trading Up 0.9%

Shares of ASIX stock traded up $0.17 during mid-day trading on Friday, reaching $19.09. The stock had a trading volume of 75,948 shares, compared to its average volume of 182,478. The stock's 50-day moving average price is $23.25 and its two-hundred day moving average price is $24.41. AdvanSix has a 52-week low of $18.44 and a 52-week high of $33.00. The firm has a market capitalization of $511.72 million, a PE ratio of 6.73 and a beta of 1.60. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, August 12th. AdvanSix's dividend payout ratio is currently 22.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of AdvanSix by 0.6% in the first quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company's stock worth $54,530,000 after buying an additional 15,367 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AdvanSix by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock valued at $44,871,000 after purchasing an additional 29,963 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in AdvanSix by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company's stock valued at $44,982,000 after buying an additional 12,793 shares during the last quarter. American Century Companies Inc. increased its stake in shares of AdvanSix by 11.3% in the first quarter. American Century Companies Inc. now owns 823,706 shares of the company's stock worth $18,657,000 after purchasing an additional 83,678 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of AdvanSix by 5.7% in the first quarter. Wellington Management Group LLP now owns 712,431 shares of the company's stock worth $16,137,000 after purchasing an additional 38,546 shares in the last quarter. Institutional investors own 86.39% of the company's stock.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of 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 engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.