Aster Capital Management DIFC Ltd Invests $538,000 in AdvanSix $ASIX

Aster Capital Management DIFC Ltd bought a new position in AdvanSix (NYSE:ASIX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,113 shares of the company’s stock, valued at approximately $538,000. Aster Capital Management DIFC Ltd owned 0.12% of AdvanSix as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of AdvanSix in the second quarter worth $29,000. Osaic Holdings Inc. increased its stake 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 during the period. Hantz Financial Services Inc. increased its stake in shares of AdvanSix by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after buying an additional 1,117 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of 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 during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASIX has been the topic of several analyst reports. Weiss Ratings downgraded shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Truist Financial lifted their target price on shares of AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Wall Street Zen downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised shares of AdvanSix to a “hold” rating in a research note on Tuesday, May 12th. Finally, Loop Capital set a $25.00 price target on shares of AdvanSix in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AdvanSix has a consensus rating of “Reduce” and an average target price of $22.50.

AdvanSix Stock Performance

NYSE:ASIX opened at $22.28 on Tuesday. The stock has a market cap of $600.72 million, a P/E ratio of 60.22 and a beta of 1.28. The firm’s fifty day simple moving average is $22.82 and its 200 day simple moving average is $19.86. AdvanSix has a twelve month low of $14.10 and a twelve month high of $26.73. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The company had revenue of $404.18 million during the quarter, compared to the consensus estimate of $364.90 million. AdvanSix had a net margin of 0.67% and a return on equity of 2.18%. As a group, research analysts predict that AdvanSix will post 0.85 EPS for the current year.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a $0.16 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.64 annualized dividend and a yield of 2.9%. AdvanSix’s payout ratio is 172.97%.

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.