AdvanSix (NYSE:ASIX) Trading Up 8.3% – What’s Next?

AdvanSix (NYSE:ASIX)’s stock price was up 8.3% during mid-day trading on Thursday . The stock traded as high as $19.74 and last traded at $19.98. Approximately 171,250 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 383,432 shares. The stock had previously closed at $18.45.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ASIX. Loop Capital set a $25.00 price target on AdvanSix in a report on Thursday. Truist Financial boosted their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AdvanSix has a consensus rating of “Hold” and a consensus price target of $28.00.

AdvanSix Stock Up 9.6%

The company has a market cap of $543.31 million, a P/E ratio of 11.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The business’s fifty day moving average is $17.91 and its two-hundred day moving average is $18.20.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The business had revenue of $359.95 million for the quarter, compared to the consensus estimate of $340.85 million. Equities analysts predict that AdvanSix will post 4 EPS for the current year.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. AdvanSix’s dividend payout ratio is presently 35.36%.

Institutional Trading of AdvanSix

A number of hedge funds have recently added to or reduced their stakes in ASIX. Vanguard Group Inc. raised its holdings in shares of AdvanSix by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock valued at $38,566,000 after purchasing an additional 10,642 shares in the last quarter. Aegis Financial Corp purchased a new position in AdvanSix during the fourth quarter valued at approximately $20,927,000. American Century Companies Inc. raised its stake in AdvanSix by 9.3% in the third quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock worth $18,752,000 after buying an additional 81,927 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in AdvanSix by 55.3% during the third quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock worth $18,382,000 after buying an additional 337,908 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in AdvanSix by 23.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 711,634 shares of the company’s stock valued at $12,311,000 after acquiring an additional 135,650 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Company Profile

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.