AdvanSix $ASIX Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its AdvanSix stake by 10,287.1% in the second quarter, acquiring 94,950 additional shares and bringing its total holdings to 95,873 shares worth approximately $1.9 million. Institutional investors collectively own 86.39% of ASIX.
• AdvanSix reported quarterly EPS of $0.19, missing the $0.56 consensus estimate, while revenue of $421.28 million fell short of expectations. Shares opened at $16.55, near the lower end of their 52-week range.
• The company maintains a quarterly dividend of $0.16, equivalent to an annualized yield of about 3.9%. Analysts have a “Reduce” consensus rating, with two Holds and one Sell and an average price target of $21.50.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AdvanSix (NYSE:ASIX - Free Report) by 10,287.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,873 shares of the company's stock after purchasing an additional 94,950 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.36% of AdvanSix worth $1,906,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ASIX. Raymond James Financial Inc. purchased a new stake in AdvanSix in the 2nd quarter valued at approximately $29,000. Osaic Holdings Inc. raised its holdings in shares of AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company's stock worth $31,000 after acquiring an additional 483 shares during the last quarter. Allworth Financial LP acquired a new position in shares of AdvanSix in the second quarter worth $40,000. Hantz Financial Services Inc. lifted its position in shares of AdvanSix by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company's stock valued at $41,000 after acquiring an additional 1,117 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of AdvanSix by 27,537.5% in the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company's stock valued at $43,000 after acquiring an additional 2,203 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

AdvanSix Trading Down 1.8%

Shares of ASIX opened at $16.55 on Friday. The stock has a fifty day moving average of $18.61 and a two-hundred day moving average of $20.66. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.28. The company has a market capitalization of $446.72 million, a PE ratio of -25.07 and a beta of 1.26. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $26.73.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.37). The business had revenue of $421.28 million for the quarter, compared to analysts' expectations of $452.00 million. AdvanSix had a negative return on equity of 1.28% and a negative net margin of 1.14%. As a group, analysts forecast that AdvanSix will post -0.15 EPS for the current year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, August 18th. AdvanSix's dividend payout ratio (DPR) is presently -96.97%.

Analysts Set New Price Targets

ASIX has been the topic of a number of analyst reports. Weiss Ratings lowered AdvanSix from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Truist Financial reduced their target price on shares of AdvanSix from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen lowered shares of AdvanSix from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AdvanSix has an average rating of "Reduce" and an average target price of $21.50.

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.

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