Arrowstreet Capital Limited Partnership Buys 319,528 Shares of AdvanSix $ASIX

Key Points

• Arrowstreet Capital increased its AdvanSix stake by 78.2%, purchasing 319,528 additional shares to own 728,292 shares valued at approximately $17.77 million, or 2.7% of the company. Institutional investors collectively own 86.39% of ASIX.
• AdvanSix reported quarterly revenue of $404.18 million, exceeding estimates, but posted an adjusted loss of $0.50 per share versus the expected $0.48 loss. Analysts anticipate full-year EPS of $0.85.
• The company maintains a quarterly dividend of $0.16, equivalent to a 3.1% annual yield, while analyst sentiment remains cautious: two firms rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a $22.50 price target.

Arrowstreet Capital Limited Partnership increased its stake in shares of AdvanSix (NYSE:ASIX - Free Report) by 78.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 728,292 shares of the company's stock after acquiring an additional 319,528 shares during the period. Arrowstreet Capital Limited Partnership owned 2.70% of AdvanSix worth $17,770,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ASIX. Raymond James Financial Inc. bought a new stake in AdvanSix during the second quarter worth approximately $29,000. Osaic Holdings Inc. raised its position in shares of AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company's stock valued at $31,000 after purchasing an additional 483 shares during the period. Hantz Financial Services Inc. lifted its stake 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 worth $41,000 after buying an additional 1,117 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake 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 worth $43,000 after buying an additional 2,203 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of AdvanSix by 144.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company's stock worth $57,000 after buying an additional 1,408 shares during the last quarter. 86.39% of the stock is owned by institutional investors.

AdvanSix Stock Up 2.3%

ASIX stock opened at $20.57 on Friday. AdvanSix has a twelve month low of $14.10 and a twelve month high of $26.73. The company has a market cap of $554.65 million, a PE ratio of 55.61 and a beta of 1.30. The business's 50-day simple moving average is $21.00 and its 200 day simple moving average is $20.75. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). AdvanSix had a net margin of 0.67% and a return on equity of 2.18%. The firm had revenue of $404.18 million for the quarter, compared to the consensus estimate of $364.90 million. On average, research analysts anticipate that AdvanSix will post 0.85 earnings per share for the current year.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a $0.16 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. AdvanSix's dividend payout ratio is currently 172.97%.

Analyst Upgrades and Downgrades

ASIX has been the topic of a number of research analyst reports. Zacks Research upgraded shares of AdvanSix to a "hold" rating in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of AdvanSix from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut shares of AdvanSix from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $22.50.

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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