AdvanSix (NYSE:ASIX) Short Interest Update

AdvanSix (NYSE:ASIX) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 708,824 shares, a drop of 40.5% from the December 15th total of 1,191,917 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average trading volume of 878,210 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 878,210 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.8% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts have commented on ASIX shares. Truist Financial began coverage on AdvanSix in a research report on Thursday. They issued a “hold” rating and a $19.00 price objective on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.67.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of AdvanSix by 23.2% in the first quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock worth $430,000 after acquiring an additional 3,575 shares during the last quarter. AQR Capital Management LLC lifted its holdings in AdvanSix by 35.7% in the 1st quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock valued at $1,693,000 after purchasing an additional 19,668 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AdvanSix by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after purchasing an additional 604 shares in the last quarter. Strs Ohio acquired a new stake in AdvanSix during the 1st quarter worth $344,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of AdvanSix by 1,195.9% during the second quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock worth $74,000 after buying an additional 2,882 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

AdvanSix Price Performance

Shares of NYSE:ASIX traded down $0.91 during midday trading on Friday, reaching $17.03. 464,329 shares of the company’s stock traded hands, compared to its average volume of 583,644. The company has a fifty day simple moving average of $16.39 and a two-hundred day simple moving average of $19.10. AdvanSix has a 1 year low of $14.10 and a 1 year high of $32.58. The company has a market cap of $457.60 million, a P/E ratio of 8.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.36.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32). AdvanSix had a return on equity of 7.14% and a net margin of 3.52%.The company had revenue of $374.47 million for the quarter, compared to analyst estimates of $365.00 million. Equities analysts predict that AdvanSix will post 4 EPS for the current fiscal year.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, November 18th. AdvanSix’s payout ratio is presently 33.33%.

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.