Aster Capital Management DIFC Ltd Takes $538,000 Position in AdvanSix $ASIX

Aster Capital Management DIFC Ltd bought a new stake in shares of AdvanSix (NYSE:ASIX) during the fourth quarter, HoldingsChannel reports. The firm bought 31,113 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds have also recently modified their holdings of ASIX. Aegis Financial Corp bought a new stake in shares of AdvanSix during the 4th quarter valued at $20,927,000. Alliancebernstein L.P. boosted its holdings in shares of AdvanSix by 55.3% during the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after buying an additional 337,908 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of AdvanSix during the 3rd quarter valued at $6,054,000. Goldman Sachs Group Inc. boosted its holdings in shares of AdvanSix by 149.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 378,610 shares of the company’s stock valued at $6,550,000 after buying an additional 226,756 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of AdvanSix during the 4th quarter valued at $3,526,000. Institutional investors own 86.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ASIX shares. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Loop Capital set a $25.00 target price on shares of AdvanSix in a report on Thursday, March 12th. Zacks Research raised AdvanSix to a “hold” rating in a research report on Tuesday, May 12th. Truist Financial lifted their price target on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings lowered AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AdvanSix has an average rating of “Reduce” and an average price target of $22.50.

AdvanSix Price Performance

ASIX opened at $22.28 on Tuesday. The stock has a 50-day moving average price of $22.82 and a 200-day moving average price of $19.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 0.68. The firm has a market cap of $600.72 million, a PE ratio of 60.22 and a beta of 1.28. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The company had revenue of $404.18 million during the quarter, compared to analysts’ expectations of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. Sell-side analysts predict that AdvanSix will post 0.85 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.64 dividend on an annualized basis and a yield of 2.9%. AdvanSix’s payout ratio is 172.97%.

About AdvanSix

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.