AdvanSix (ASIX) Announces Quarterly Earnings Results

AdvanSix (NYSE:ASIX) released its quarterly earnings results on Friday. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.09), MarketWatch Earnings reports. AdvanSix had a return on equity of 22.35% and a net margin of 8.93%. The firm had revenue of $368.65 million during the quarter, compared to analysts’ expectations of $376.45 million. During the same period in the prior year, the firm posted $0.68 earnings per share. AdvanSix’s revenue for the quarter was up .5% compared to the same quarter last year.

NYSE:ASIX opened at $25.31 on Friday. AdvanSix has a 12 month low of $22.84 and a 12 month high of $45.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.78. The firm has a market cap of $841.38 million, a PE ratio of 8.44 and a beta of 1.68.

Several research firms have recently commented on ASIX. TheStreet upgraded shares of AdvanSix from a “c” rating to a “b-” rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of AdvanSix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, ValuEngine downgraded shares of AdvanSix from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.50.

In related news, Director Michael Marberry acquired 1,477 shares of the stock in a transaction dated Friday, October 5th. The stock was acquired at an average cost of $33.81 per share, for a total transaction of $49,937.37. Following the completion of the purchase, the director now owns 31,145 shares of the company’s stock, valued at approximately $1,053,012.45. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 4,348 shares of company stock valued at $150,035 over the last quarter. Insiders own 0.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in AdvanSix by 5.4% during the second quarter. BlackRock Inc. now owns 4,271,632 shares of the company’s stock valued at $156,468,000 after purchasing an additional 219,565 shares during the period. Dimensional Fund Advisors LP lifted its position in AdvanSix by 31.6% during the second quarter. Dimensional Fund Advisors LP now owns 812,910 shares of the company’s stock valued at $29,777,000 after purchasing an additional 195,413 shares during the period. Sterling Capital Management LLC lifted its position in AdvanSix by 14.4% during the second quarter. Sterling Capital Management LLC now owns 517,606 shares of the company’s stock valued at $18,960,000 after purchasing an additional 64,962 shares during the period. WINTON GROUP Ltd lifted its position in AdvanSix by 73.7% during the second quarter. WINTON GROUP Ltd now owns 479,931 shares of the company’s stock valued at $17,580,000 after purchasing an additional 203,599 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in AdvanSix by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 403,474 shares of the company’s stock valued at $14,779,000 after purchasing an additional 3,452 shares during the period. Institutional investors own 77.20% of the company’s stock.

About AdvanSix

AdvanSix Inc manufactures and sells polymer resins in the United States. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam, ammonium sulfate fertilizers, and acetone, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.

Read More: Balance Sheet

Earnings History for AdvanSix (NYSE:ASIX)

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