Ieq Capital LLC Invests $1.06 Million in AdvanSix $ASIX

Ieq Capital LLC acquired a new stake in shares of AdvanSix (NYSE:ASIX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 53,482 shares of the company’s stock, valued at approximately $1,063,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ASIX. Lumbard & Kellner LLC bought a new stake in AdvanSix during the fourth quarter valued at about $2,511,000. UBS Group AG increased its position in AdvanSix by 23.0% in the fourth quarter. UBS Group AG now owns 141,875 shares of the company’s stock worth $2,454,000 after buying an additional 26,564 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of AdvanSix by 78.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company’s stock worth $17,770,000 after buying an additional 319,528 shares during the period. Donald Smith & CO. Inc. bought a new position in shares of AdvanSix in the second quarter worth about $4,228,000. Finally, Hsbc Holdings PLC purchased a new position in shares of AdvanSix during the 4th quarter valued at about $612,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of AdvanSix from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Zacks Research raised shares of AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Finally, Truist Financial cut their price target on AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AdvanSix has a consensus rating of “Reduce” and an average target price of $21.50.

AdvanSix Stock Performance

ASIX opened at $16.50 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.28. The stock has a market capitalization of $445.52 million, a price-to-earnings ratio of -25.00 and a beta of 1.29. The company has a fifty day moving average of $19.31 and a 200 day moving average of $20.81. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $26.73.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). The company had revenue of $421.28 million for the quarter, compared to the consensus estimate of $452.00 million. AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. As a group, sell-side analysts forecast that AdvanSix will post -0.15 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, August 18th. AdvanSix’s payout ratio is currently -96.97%.

AdvanSix 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.