Donald Smith & CO. Inc. Buys New Shares in AdvanSix $ASIX

Donald Smith & CO. Inc. purchased a new stake in shares of AdvanSix (NYSE:ASIX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 212,680 shares of the company’s stock, valued at approximately $4,228,000. Donald Smith & CO. Inc. owned 0.79% of AdvanSix as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of AdvanSix during the 2nd quarter valued at about $29,000. Osaic Holdings Inc. increased its holdings in AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after acquiring an additional 483 shares in the last quarter. Allworth Financial LP purchased a new stake in AdvanSix in the 2nd quarter worth approximately $40,000. CIBC Private Wealth Group LLC raised its stake in AdvanSix by 27,537.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after acquiring an additional 2,203 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in AdvanSix by 90.0% during the 4th quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after acquiring an additional 1,117 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Performance

NYSE:ASIX opened at $17.24 on Friday. The stock has a 50-day moving average price of $19.60 and a 200 day moving average price of $20.80. The stock has a market capitalization of $465.48 million, a P/E ratio of -26.12 and a beta of 1.29. AdvanSix has a 12-month low of $14.10 and a 12-month high of $26.73. The company has a current ratio of 1.28, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). AdvanSix had a negative return on equity of 1.28% and a negative net margin of 1.14%.The business had revenue of $421.28 million during the quarter, compared to analysts’ expectations of $452.00 million. Equities research analysts forecast that AdvanSix will post -0.15 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. AdvanSix’s payout ratio is -96.97%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a research report on Friday, August 7th. Wall Street Zen cut shares of AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Truist Financial decreased their price objective on shares of AdvanSix from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Finally, Zacks Research upgraded shares of AdvanSix to a “hold” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $21.50.

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.