AdvanSix $ASIX Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in AdvanSix (NYSE:ASIX - Free Report) by 31.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 144,314 shares of the company's stock after selling 66,493 shares during the period. Bank of America Corp DE owned about 0.54% of AdvanSix worth $3,521,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ASIX. Infrastructure Capital Advisors LLC boosted its position in shares of AdvanSix by 15.5% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 14,748 shares of the company's stock worth $360,000 after buying an additional 1,981 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of AdvanSix by 32.1% during the 1st quarter. Quantinno Capital Management LP now owns 39,563 shares of the company's stock worth $965,000 after purchasing an additional 9,615 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of AdvanSix by 253.4% during the first quarter. Public Employees Retirement System of Ohio now owns 6,474 shares of the company's stock worth $158,000 after buying an additional 4,642 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of AdvanSix by 78.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company's stock valued at $17,770,000 after buying an additional 319,528 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of AdvanSix in the first quarter valued at approximately $436,000. Institutional investors and hedge funds own 86.39% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASIX. Zacks Research upgraded shares of AdvanSix to a "hold" rating in a research report on Tuesday, May 12th. Truist Financial reduced their target price on AdvanSix from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, August 10th. Wall Street Zen lowered AdvanSix from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut AdvanSix from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, AdvanSix has a consensus rating of "Reduce" and a consensus target price of $21.50.

AdvanSix Trading Up 0.2%

NYSE:ASIX opened at $16.53 on Monday. The business's 50-day moving average is $19.17 and its two-hundred day moving average is $20.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70. AdvanSix has a 12 month low of $14.10 and a 12 month high of $26.73. The firm has a market capitalization of $446.31 million, a PE ratio of -25.05 and a beta of 1.29.

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

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.9%. AdvanSix's dividend payout ratio (DPR) is currently -96.97%.

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.

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