First Eagle Investment Management LLC Decreases Holdings in AdvanSix $ASIX

First Eagle Investment Management LLC lowered its stake in shares of AdvanSix (NYSE:ASIX) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,024 shares of the company’s stock after selling 47,000 shares during the period. First Eagle Investment Management LLC’s holdings in AdvanSix were worth $3,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Osaic Holdings Inc. lifted its stake in AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after buying an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AdvanSix by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after buying an additional 604 shares in the last quarter. Sheets Smith Wealth Management increased its stake in AdvanSix by 3.8% during the 4th quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock worth $309,000 after buying an additional 659 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AdvanSix by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock valued at $234,000 after acquiring an additional 746 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of AdvanSix by 8.8% during the third quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock valued at $257,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Price Performance

ASIX stock opened at $22.38 on Thursday. 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 business has a 50 day simple moving average of $22.59 and a 200-day simple moving average of $19.03. The firm has a market capitalization of $603.47 million, a PE ratio of 60.50 and a beta of 1.33. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The company had revenue of $404.18 million for 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%. Equities research analysts anticipate that AdvanSix will post 0.89 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.64 annualized dividend and a dividend yield of 2.9%. AdvanSix’s payout ratio is presently 172.97%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ASIX. Truist Financial lifted their price target on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings raised AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Loop Capital set a $25.00 target price on shares of AdvanSix in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.67.

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.