Zacks Investment Research upgraded shares of AdvanSix (NYSE:ASIX) from a sell rating to a hold rating in a research report released on Friday morning.
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. “
Separately, ValuEngine downgraded AdvanSix from a buy rating to a hold rating in a report on Friday, December 1st.
AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. AdvanSix had a return on equity of 32.17% and a net margin of 9.94%. The business had revenue of $370.39 million for the quarter, compared to the consensus estimate of $365.40 million. The business’s revenue was up 42.8% on a year-over-year basis. sell-side analysts forecast that AdvanSix will post 3.28 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in AdvanSix by 109.3% during the 3rd quarter. Wells Fargo & Company MN now owns 289,673 shares of the company’s stock worth $11,514,000 after buying an additional 151,278 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in AdvanSix during the 4th quarter worth approximately $8,919,000. Ameriprise Financial Inc. grew its stake in AdvanSix by 6.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 174,729 shares of the company’s stock worth $6,946,000 after buying an additional 10,428 shares during the last quarter. California Public Employees Retirement System grew its stake in AdvanSix by 10.8% during the 3rd quarter. California Public Employees Retirement System now owns 99,815 shares of the company’s stock worth $3,968,000 after buying an additional 9,699 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in AdvanSix by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,172,446 shares of the company’s stock worth $46,488,000 after buying an additional 6,937 shares during the last quarter. Hedge funds and other institutional investors own 77.95% 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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