Y Intercept Hong Kong Ltd Cuts Stock Holdings in AdvanSix $ASIX

Y Intercept Hong Kong Ltd reduced its stake in shares of AdvanSix (NYSE:ASIX) by 73.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,302 shares of the company’s stock after selling 132,787 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in AdvanSix were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in AdvanSix during the 4th quarter worth approximately $612,000. Mercer Global Advisors Inc. ADV bought a new stake in AdvanSix in the fourth quarter valued at approximately $246,000. Empowered Funds LLC boosted its stake in shares of AdvanSix by 10.8% during the fourth quarter. Empowered Funds LLC now owns 144,284 shares of the company’s stock valued at $2,496,000 after purchasing an additional 14,084 shares during the period. XTX Topco Ltd purchased a new stake in shares of AdvanSix during the fourth quarter valued at approximately $443,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of AdvanSix in the fourth quarter worth approximately $984,000. Institutional investors own 86.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research raised shares of AdvanSix to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $22.50.

AdvanSix Trading Up 2.0%

NYSE ASIX traded up $0.39 on Friday, hitting $20.35. The company’s stock had a trading volume of 205,930 shares, compared to its average volume of 244,277. The firm has a market cap of $548.64 million, a P/E ratio of 55.00 and a beta of 1.30. AdvanSix has a 52-week low of $14.10 and a 52-week high of $26.73. The company’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $20.39. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX) last posted its 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). AdvanSix had a net margin of 0.67% and a return on equity of 2.18%. The business had revenue of $404.18 million for the quarter, compared to analysts’ expectations of $364.90 million. Research analysts predict that AdvanSix will post 0.85 EPS for the current fiscal year.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a $0.16 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.64 annualized dividend and a yield of 3.1%. AdvanSix’s dividend 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.