Wall Street Zen Downgrades AdvanSix (NYSE:ASIX) to Hold

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 lowered 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 price target on shares of AdvanSix in a research note on Monday, May 19th.

AdvanSix Price Performance

NYSE:ASIX traded up $0.60 during mid-day trading on Friday, hitting $18.89. 358,659 shares of the stock traded hands, compared to its average volume of 186,106. The business's 50-day moving average price is $22.71 and its 200 day moving average price is $23.95. The company has a market cap of $507.09 million, a PE ratio of 6.65 and a beta of 1.60. AdvanSix has a 12-month low of $17.97 and a 12-month high of $33.00. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.29.

AdvanSix Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.4%. AdvanSix's dividend payout ratio is 22.54%.

Institutional Investors Weigh In On AdvanSix

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in AdvanSix by 0.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company's stock valued at $54,530,000 after buying an additional 15,367 shares during the last quarter. Vanguard Group Inc. grew its position in shares of AdvanSix by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock worth $44,871,000 after buying an additional 29,963 shares during the period. Dimensional Fund Advisors LP grew its position in shares of AdvanSix by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company's stock worth $44,982,000 after buying an additional 12,793 shares during the period. American Century Companies Inc. grew its position in shares of AdvanSix by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 885,644 shares of the company's stock worth $21,034,000 after buying an additional 61,938 shares during the period. Finally, Wellington Management Group LLP increased its stake in AdvanSix by 5.7% during the 1st quarter. Wellington Management Group LLP now owns 712,431 shares of the company's stock valued at $16,137,000 after purchasing an additional 38,546 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company's stock.

About AdvanSix

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.