SG Americas Securities LLC Boosts Stake in AdvanSix $ASIX

SG Americas Securities LLC increased its position in AdvanSix (NYSE:ASIX) by 1,145.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,812 shares of the company’s stock after purchasing an additional 62,369 shares during the period. SG Americas Securities LLC’s holdings in AdvanSix were worth $1,173,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. 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 buying an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AdvanSix by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after buying an additional 604 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AdvanSix by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock worth $234,000 after buying an additional 746 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of AdvanSix by 8.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock worth $257,000 after buying an additional 1,022 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of AdvanSix by 8.3% in the third quarter. Illinois Municipal Retirement Fund now owns 14,733 shares of the company’s stock worth $286,000 after buying an additional 1,134 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASIX has been the topic of a number of research analyst reports. Wall Street Zen downgraded AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Loop Capital set a $25.00 price objective on AdvanSix in a research report on Thursday, March 12th. Weiss Ratings upgraded AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 25th. Finally, Truist Financial upped their price objective on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.67.

AdvanSix Trading Up 0.7%

ASIX opened at $24.81 on Wednesday. The stock has a market cap of $666.75 million, a price-to-earnings ratio of 13.71 and a beta of 1.43. The stock’s 50 day moving average price is $19.98 and its 200-day moving average price is $18.43. AdvanSix has a one year low of $14.10 and a one year high of $25.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $359.95 million for the quarter, compared to analysts’ expectations of $340.85 million. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%. On average, equities analysts forecast that AdvanSix will post 4 EPS for the current year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, March 9th. AdvanSix’s dividend payout ratio (DPR) is presently 35.36%.

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.