Zacks Investment Research Upgrades AdvanSix (ASIX) to Hold

AdvanSix (NYSE:ASIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “

A number of other equities research analysts have also weighed in on ASIX. BidaskClub lowered shares of AdvanSix from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. ValuEngine lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Cowen upped their target price on shares of AdvanSix from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, September 6th.

AdvanSix (NYSE ASIX) traded up $0.65 during mid-day trading on Tuesday, hitting $43.25. 215,500 shares of the stock were exchanged, compared to its average volume of 203,200. The company has a market cap of $1,330.00 and a PE ratio of 27.20. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.84. AdvanSix has a one year low of $20.88 and a one year high of $46.51.

In other AdvanSix news, Director Michael Marberry bought 539 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were bought at an average price of $46.41 per share, for a total transaction of $25,014.99. Following the acquisition, the director now directly owns 16,420 shares of the company’s stock, valued at approximately $762,052.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 1,741 shares of company stock worth $74,988 in the last 90 days. 2.70% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ASIX. SG Americas Securities LLC purchased a new stake in AdvanSix in the 2nd quarter valued at about $100,000. Pacad Investment Ltd. increased its stake in AdvanSix by 16.7% in the 2nd quarter. Pacad Investment Ltd. now owns 3,500 shares of the company’s stock valued at $109,000 after buying an additional 500 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in AdvanSix in the 3rd quarter valued at about $123,000. Pinebridge Investments L.P. increased its stake in AdvanSix by 13.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,509 shares of the company’s stock valued at $141,000 after buying an additional 539 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in AdvanSix by 772.8% in the 2nd quarter. Quantbot Technologies LP now owns 4,783 shares of the company’s stock valued at $149,000 after buying an additional 4,235 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

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AdvanSix Company Profile

AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.

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