Aegis Financial Corp Acquires New Stake in AdvanSix $ASIX

Aegis Financial Corp acquired a new stake in AdvanSix (NYSE:ASIX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,209,629 shares of the company’s stock, valued at approximately $20,927,000. AdvanSix comprises about 5.0% of Aegis Financial Corp’s holdings, making the stock its 6th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in AdvanSix by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock valued at $38,566,000 after buying an additional 10,642 shares during the last quarter. American Century Companies Inc. grew its position in AdvanSix by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after buying an additional 81,927 shares during the last quarter. Alliancebernstein L.P. grew its position in AdvanSix by 55.3% in the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after buying an additional 337,908 shares during the last quarter. Goldman Sachs Group Inc. grew its position in AdvanSix by 149.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 378,610 shares of the company’s stock valued at $6,550,000 after buying an additional 226,756 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new position in AdvanSix in the 3rd quarter valued at $6,054,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ASIX. Truist Financial lifted their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Loop Capital set a $25.00 price objective on shares of AdvanSix in a research report on Thursday, March 12th. Wall Street Zen lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of AdvanSix to a “hold” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $22.50.

AdvanSix Price Performance

Shares of NYSE ASIX opened at $21.48 on Friday. The firm has a market capitalization of $579.21 million, a P/E ratio of 58.07 and a beta of 1.28. AdvanSix has a one year low of $14.10 and a one year high of $26.73. The company’s fifty day moving average is $22.93 and its two-hundred day moving average is $19.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 1.23.

AdvanSix (NYSE:ASIX) last released 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). The firm had revenue of $404.18 million for the quarter, compared to analyst estimates of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. Analysts forecast that AdvanSix will post 0.85 EPS for the current fiscal year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.64 annualized dividend and a yield of 3.0%. AdvanSix’s payout ratio is presently 172.97%.

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.