Piper Sandler Cuts AdvanSix (NYSE:ASIX) Price Target to $35.00

AdvanSix (NYSE:ASIX) had its target price decreased by Piper Sandler from $39.00 to $35.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Trading Down 1.1 %

ASIX opened at $23.33 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $623.94 million, a PE ratio of 14.49 and a beta of 1.73. AdvanSix has a 1-year low of $20.86 and a 1-year high of $33.00. The firm has a 50-day moving average price of $28.67 and a two-hundred day moving average price of $29.30.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.40. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. The firm had revenue of $329.06 million during the quarter, compared to analysts’ expectations of $377.15 million. As a group, equities analysts anticipate that AdvanSix will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Monday, March 10th. AdvanSix’s dividend payout ratio is 39.75%.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the transaction, the chief executive officer now owns 502,795 shares in the company, valued at approximately $15,179,381.05. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in AdvanSix during the fourth quarter valued at approximately $94,000. Quantbot Technologies LP grew its holdings in AdvanSix by 618.5% during the third quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock valued at $132,000 after purchasing an additional 3,754 shares during the period. KLP Kapitalforvaltning AS acquired a new position in AdvanSix during the fourth quarter valued at approximately $137,000. State of Wyoming bought a new position in AdvanSix in the fourth quarter valued at approximately $156,000. Finally, Public Employees Retirement System of Ohio lifted its stake in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after buying an additional 1,396 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.