Core Capital Management & Research inc. Takes Position in AdvanSix $ASIX

Key Points

• Core Capital Management & Research acquired 139,114 AdvanSix shares worth approximately $2.77 million, giving it a 0.52% stake and making ASIX its 26th-largest holding. Institutional investors collectively own 86.39% of the company.
• AdvanSix reported quarterly earnings of $0.19 per share, missing the $0.56 consensus estimate, while revenue of $421.28 million also fell short of expectations. Analysts project a full-year loss of $0.15 per share.
• Shares opened at $16.84, near the lower end of their 52-week range, and the company maintains a quarterly dividend of $0.16, equivalent to a 3.8% yield. Analyst sentiment is negative, with a consensus “Reduce” rating and an average price target of $21.50.

Core Capital Management & Research inc. bought a new position in AdvanSix (NYSE:ASIX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 139,114 shares of the company's stock, valued at approximately $2,766,000. AdvanSix accounts for about 1.5% of Core Capital Management & Research inc.'s holdings, making the stock its 26th largest holding. Core Capital Management & Research inc. owned about 0.52% of AdvanSix as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ASIX. Raymond James Financial Inc. acquired a new stake in AdvanSix during the 2nd quarter worth about $29,000. Osaic Holdings Inc. lifted 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 worth $31,000 after purchasing an additional 483 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of AdvanSix during the second quarter worth approximately $40,000. CIBC Private Wealth Group LLC grew its position in AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company's stock valued at $43,000 after purchasing an additional 2,203 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in AdvanSix by 90.0% in the 4th quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company's stock valued at $41,000 after buying an additional 1,117 shares during the period. Hedge funds and other institutional investors own 86.39% of the company's stock.

AdvanSix Trading Down 0.5%

AdvanSix stock opened at $16.84 on Thursday. AdvanSix has a one year low of $14.10 and a one year high of $26.73. The company's fifty day moving average price is $18.76 and its two-hundred day moving average price is $20.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70. The company has a market capitalization of $454.76 million, a price-to-earnings ratio of -25.52 and a beta of 1.26.

AdvanSix (NYSE:ASIX - Get Free Report) last announced 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 company had revenue of $421.28 million during the quarter, compared to analyst estimates of $452.00 million. AdvanSix had a negative return on equity of 1.28% and a negative net margin of 1.14%. On average, analysts forecast that AdvanSix will post -0.15 earnings per share for the current fiscal year.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, August 18th. AdvanSix's payout ratio is -96.97%.

Analyst Upgrades and Downgrades

ASIX has been the topic of several research analyst reports. Wall Street Zen cut shares of AdvanSix from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Truist Financial dropped 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. Finally, Weiss Ratings lowered 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 issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus 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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