AdvanSix (NYSE:ASIX) Reaches New 1-Year High – Time to Buy?

AdvanSix (NYSE:ASIX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $25.54 and last traded at $25.3760, with a volume of 39723 shares traded. The stock had previously closed at $25.10.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ASIX shares. Weiss Ratings raised shares of AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 25th. Wall Street Zen lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Loop Capital set a $25.00 price objective on shares of AdvanSix in a report on Thursday, March 12th. Finally, Truist Financial increased their target price on shares of AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, AdvanSix has an average rating of “Hold” and a consensus target price of $25.67.

AdvanSix Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $19.32 and its 200 day simple moving average is $18.33. The company has a market cap of $688.11 million, a price-to-earnings ratio of 14.13 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $359.95 million during the quarter, compared to analysts’ expectations of $340.85 million. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%. As a group, analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. AdvanSix’s dividend payout ratio is currently 35.36%.

Institutional Trading of AdvanSix

Several hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings in AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after acquiring an additional 483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of AdvanSix by 3.8% during the 4th quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock worth $309,000 after purchasing an additional 659 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of AdvanSix by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock worth $234,000 after purchasing an additional 746 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in AdvanSix by 8.8% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock valued at $257,000 after buying an additional 1,022 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.