AdvanSix $ASIX Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AdvanSix (NYSE:ASIX) by 10,287.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,873 shares of the company’s stock after purchasing an additional 94,950 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AdvanSix were worth $1,906,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC purchased a new stake in shares of AdvanSix during the 2nd quarter valued at $6,017,000. Public Employees Retirement System of Ohio purchased a new position in shares of AdvanSix in the 2nd quarter worth $317,000. Corient Private Wealth LP purchased a new position in shares of AdvanSix in the 2nd quarter worth $593,000. Bank of America Corp DE acquired a new position in AdvanSix in the second quarter valued at $2,922,000. Finally, Odyssean LLC acquired a new position in AdvanSix in the second quarter valued at $240,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Stock Performance

Shares of ASIX stock opened at $16.55 on Friday. The company’s fifty day simple moving average is $18.61 and its 200-day simple moving average is $20.66. AdvanSix has a 52 week low of $14.10 and a 52 week 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. The company has a market cap of $446.72 million, a PE ratio of -25.07 and a beta of 1.26.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.19 earnings per share 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 for the quarter, compared to analysts’ expectations of $452.00 million. As a group, equities research analysts anticipate that AdvanSix will post -0.15 EPS for the current year.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, August 18th. AdvanSix’s payout ratio is currently -96.97%.

Analyst Ratings Changes

Several equities research analysts have commented on ASIX shares. Weiss Ratings lowered AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Truist Financial decreased their target price on AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $21.50.

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.