AdvanSix (NYSE:ASIX) announced its earnings results on Thursday. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.14, Morningstar.com reports. AdvanSix had a net margin of 5.09% and a return on equity of 17.96%. The business had revenue of $345.22 million for the quarter, compared to the consensus estimate of $344.33 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was down 13.8% on a year-over-year basis.
Shares of NYSE ASIX traded up $0.61 during mid-day trading on Friday, reaching $25.06. The company had a trading volume of 179,900 shares, compared to its average volume of 163,161. The stock’s 50-day moving average price is $25.23. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.50 and a current ratio of 1.05. The firm has a market cap of $734.33 million, a PE ratio of 11.99 and a beta of 1.89. AdvanSix has a 52 week low of $22.57 and a 52 week high of $41.45.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of AdvanSix from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 26th. ValuEngine upgraded shares of AdvanSix from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $34.00.
A number of institutional investors have recently modified their holdings of ASIX. AltraVue Capital LLC increased its stake in AdvanSix by 214.1% during the second quarter. AltraVue Capital LLC now owns 132,681 shares of the company’s stock worth $3,241,000 after purchasing an additional 90,441 shares during the period. Cubic Asset Management LLC grew its position in shares of AdvanSix by 49.9% during the second quarter. Cubic Asset Management LLC now owns 36,855 shares of the company’s stock worth $900,000 after buying an additional 12,265 shares in the last quarter. Strs Ohio grew its position in shares of AdvanSix by 11.7% during the second quarter. Strs Ohio now owns 28,700 shares of the company’s stock worth $701,000 after buying an additional 3,000 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of AdvanSix during the second quarter worth about $162,000. Finally, Legato Capital Management LLC grew its position in shares of AdvanSix by 28.4% during the second quarter. Legato Capital Management LLC now owns 54,240 shares of the company’s stock worth $1,325,000 after buying an additional 12,000 shares in the last quarter. Institutional investors own 82.72% of the company’s stock.
AdvanSix Inc manufactures and sells polymer resins. 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 to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, 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.
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