AdvanSix (NYSE:ASIX) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• AdvanSix has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, according to a report released on Sunday.
• Piper Sandler has set a target price of $32.00 for AdvanSix, reflecting current market sentiments.
• Institutional investors hold 86.39% of AdvanSix's stock, with notable increases in holdings from various firms during the recent quarters.

Wall Street Zen downgraded shares of AdvanSix (NYSE:ASIX - Free Report) from a buy rating to a hold rating in a report released on Sunday.

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

AdvanSix Stock Performance

Shares of NYSE ASIX traded down $0.58 during trading hours on Friday, hitting $19.46. 63,038 shares of the company's stock were exchanged, compared to its average volume of 186,197. AdvanSix has a 1-year low of $17.97 and a 1-year high of $33.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.35 and a quick ratio of 0.66. The stock has a market capitalization of $522.31 million, a price-to-earnings ratio of 6.85 and a beta of 1.60. The company's 50-day moving average price is $22.54 and its 200-day moving average price is $23.89.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. AdvanSix's dividend payout ratio (DPR) is presently 22.54%.

Institutional Investors Weigh In On AdvanSix

Several institutional investors have recently made changes to their positions in ASIX. GAMMA Investing LLC lifted its stake in AdvanSix by 149.5% during the first quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock worth $45,000 after purchasing an additional 1,178 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in AdvanSix by 1,195.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company's stock worth $74,000 after acquiring an additional 2,882 shares during the period. AlphaQuest LLC grew its holdings in AdvanSix by 22.3% during the 1st quarter. AlphaQuest LLC now owns 4,014 shares of the company's stock worth $91,000 after acquiring an additional 731 shares during the period. Quantbot Technologies LP boosted its position in shares of AdvanSix by 33.2% during the 1st quarter. Quantbot Technologies LP now owns 4,096 shares of the company's stock worth $93,000 after purchasing an additional 1,022 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of AdvanSix during the 4th quarter worth about $156,000. 86.39% of the stock is currently owned by institutional investors.

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.