Waterfront Wealth Inc. Acquires 53,261 Shares of AdvanSix $ASIX

Key Points

• Waterfront Wealth increased its stake in AdvanSix by 380.7% in Q4, buying 53,261 shares to own 67,250 shares (about 0.25% of the company) worth $1.141 million.
• AdvanSix beat Q results with EPS of $0.03 (vs. a -$0.06 estimate) and revenue of $359.95M, and it pays a $0.16 quarterly dividend (a 3.0% yield) with a market cap of $577.7M and a P/E of 11.88.
• Analyst sentiment is mixed—MarketBeat shows a consensus "Hold" with an average price target of $25.67—and institutional ownership is high at 86.39%.

Waterfront Wealth Inc. increased its holdings in AdvanSix (NYSE:ASIX - Free Report) by 380.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,250 shares of the company's stock after buying an additional 53,261 shares during the period. Waterfront Wealth Inc. owned about 0.25% of AdvanSix worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in AdvanSix in the second quarter worth approximately $29,000. Osaic Holdings Inc. raised its stake in 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 buying an additional 483 shares in the last quarter. Versant Capital Management Inc raised its stake in AdvanSix by 185.2% in the third quarter. Versant Capital Management Inc now owns 2,142 shares of the company's stock worth $42,000 after buying an additional 1,391 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in 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 in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in 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 in the last quarter. Institutional investors own 86.39% of the company's stock.

AdvanSix Price Performance

NYSE ASIX opened at $21.50 on Monday. The firm's fifty day simple moving average is $20.99 and its two-hundred day simple moving average is $18.65. The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. AdvanSix has a 12-month low of $14.10 and a 12-month high of $25.94. The firm has a market capitalization of $577.74 million, a P/E ratio of 11.88 and a beta of 1.43.

AdvanSix (NYSE:ASIX - Get Free Report) last released its quarterly earnings results on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The business had revenue of $359.95 million for the quarter, compared to analyst estimates of $340.85 million. Analysts forecast that AdvanSix will post 4 EPS for the current fiscal year.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, March 9th. AdvanSix's payout ratio is currently 35.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings downgraded shares of AdvanSix from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 10th. Truist Financial lifted their price target on shares of AdvanSix from $19.00 to $20.00 and gave the stock a "hold" rating in a report on Monday, February 23rd. Loop Capital set a $25.00 price target on shares of AdvanSix in a report on Thursday, March 12th. Finally, Wall Street Zen raised shares of AdvanSix from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AdvanSix presently has a consensus rating of "Hold" and an average price target of $25.67.

AdvanSix 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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