Murphy Middleton Hinkle & Parker Inc. Takes $702,000 Position in AdvanSix $ASIX

Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of AdvanSix (NYSE:ASIX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 40,568 shares of the company’s stock, valued at approximately $702,000. Murphy Middleton Hinkle & Parker Inc. owned about 0.15% of AdvanSix as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ASIX. Alliancebernstein L.P. boosted its stake in AdvanSix by 55.3% in the third quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after acquiring an additional 337,908 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of AdvanSix during the 3rd quarter worth approximately $6,054,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AdvanSix by 165.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock worth $9,828,000 after purchasing an additional 257,789 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of AdvanSix by 359.8% in the 3rd quarter. Two Sigma Investments LP now owns 192,972 shares of the company’s stock worth $3,740,000 after purchasing an additional 151,003 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in AdvanSix by 133.4% during the 2nd quarter. Bank of America Corp DE now owns 238,874 shares of the company’s stock valued at $5,673,000 after purchasing an additional 136,523 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

Analyst Ratings Changes

ASIX has been the subject of a number of recent research reports. Wall Street Zen downgraded AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Loop Capital set a $25.00 target price on AdvanSix in a research note on Thursday, March 12th. Truist Financial boosted their price target on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AdvanSix has an average rating of “Hold” and an average target price of $25.67.

AdvanSix Stock Up 5.2%

ASIX opened at $21.31 on Tuesday. The stock’s 50 day moving average price is $18.39 and its 200 day moving average price is $18.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.13 and a quick ratio of 0.52. The stock has a market cap of $572.58 million, a P/E ratio of 11.77 and a beta of 1.66. AdvanSix has a 12 month low of $14.10 and a 12 month high of $25.53.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%.The company had revenue of $359.95 million during the quarter, compared to analyst estimates of $340.85 million. As a group, research analysts predict that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, March 9th. AdvanSix’s dividend payout ratio is currently 35.36%.

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.