Lumbard & Kellner LLC Purchases Shares of 145,128 AdvanSix $ASIX

Key Points

• Lumbard & Kellner LLC purchased a new stake of 145,128 AdvanSix shares in Q4 valued at about $2.51 million, representing roughly 0.54% ownership per its latest 13F filing.
• AdvanSix reported quarterly EPS of $(0.50), missing estimates by $0.02, while revenue of $404.18 million topped consensus; the stock opened at $23.93 (down 4.9%), with a market cap of $645.2M and a P/E of 13.2.
• The company pays a quarterly dividend of $0.16 (annualized $0.64, yield ~2.7%, payout ratio 35%), and analysts hold a consensus "Hold" rating with a $25.67 price target amid mixed upgrades and downgrades.

Lumbard & Kellner LLC purchased a new stake in shares of AdvanSix (NYSE:ASIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 145,128 shares of the company's stock, valued at approximately $2,511,000. Lumbard & Kellner LLC owned 0.54% of AdvanSix as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invenomic Capital Management LP bought a new stake in AdvanSix during the third quarter valued at about $6,054,000. American Century Companies Inc. raised its holdings in AdvanSix by 9.3% during the third quarter. American Century Companies Inc. now owns 967,571 shares of the company's stock valued at $18,752,000 after acquiring an additional 81,927 shares during the period. SG Americas Securities LLC raised its holdings in AdvanSix by 1,145.9% during the fourth quarter. SG Americas Securities LLC now owns 67,812 shares of the company's stock valued at $1,173,000 after acquiring an additional 62,369 shares during the period. Waterfront Wealth Inc. raised its holdings in AdvanSix by 380.7% during the fourth quarter. Waterfront Wealth Inc. now owns 67,250 shares of the company's stock valued at $1,141,000 after acquiring an additional 53,261 shares during the period. Finally, Deprince Race & Zollo Inc. raised its holdings in AdvanSix by 15.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 293,768 shares of the company's stock valued at $5,082,000 after acquiring an additional 38,611 shares during the period. 86.39% of the stock is owned by institutional investors.

AdvanSix Trading Down 4.9%

Shares of ASIX stock opened at $23.93 on Friday. AdvanSix has a 12-month low of $14.10 and a 12-month high of $26.73. The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average price is $22.28 and its 200-day moving average price is $18.96. The stock has a market capitalization of $645.18 million, a price-to-earnings ratio of 13.22 and a beta of 1.33.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its 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 return on equity of 6.97% and a net margin of 3.24%.The firm had revenue of $404.18 million during the quarter, compared to the consensus estimate of $364.90 million.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, March 9th. AdvanSix's payout ratio is 35.36%.

Analyst Upgrades and Downgrades

ASIX has been the topic of a number of recent analyst reports. Truist Financial raised their price target on AdvanSix from $19.00 to $20.00 and gave the company a "hold" rating in a report on Monday, February 23rd. Weiss Ratings raised AdvanSix from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, April 29th. Loop Capital set a $25.00 price target on AdvanSix in a report on Thursday, March 12th. Finally, Wall Street Zen raised AdvanSix from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, AdvanSix currently has an average rating of "Hold" and a consensus target price of $25.67.

About AdvanSix

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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