AdvanSix (NYSE:ASIX) Sees Large Drop in Short Interest

AdvanSix (NYSE:ASIX) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 567,388 shares, a decrease of 22.9% from the February 12th total of 735,878 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 387,687 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 387,687 shares, the short-interest ratio is presently 1.5 days. Currently, 2.2% of the shares of the stock are short sold.

AdvanSix Price Performance

Shares of AdvanSix stock traded down $0.39 during trading on Friday, reaching $20.61. 577,838 shares of the stock traded hands, compared to its average volume of 487,374. AdvanSix has a 52-week low of $14.10 and a 52-week high of $25.53. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.13 and a quick ratio of 0.52. The business has a fifty day simple moving average of $18.05 and a two-hundred day simple moving average of $18.18. The company has a market capitalization of $553.66 million, a price-to-earnings ratio of 11.38 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last posted 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. The company had revenue of $359.95 million for the quarter, compared to the consensus estimate of $340.85 million. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%. Sell-side analysts expect that AdvanSix will post 4 EPS for the current year.

AdvanSix Announces Dividend

The company also recently announced 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, March 9th. AdvanSix’s dividend payout ratio is currently 35.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Loop Capital set a $25.00 price target on AdvanSix in a report on Thursday. Truist Financial increased their target price on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of AdvanSix in a 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Institutional Investors Weigh In On AdvanSix

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in AdvanSix during the second quarter valued at $29,000. Osaic Holdings Inc. increased its holdings in shares of AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after buying an additional 483 shares during the last quarter. Versant Capital Management Inc raised its position in shares of AdvanSix by 185.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock valued at $42,000 after buying an additional 1,391 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of AdvanSix by 27,537.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock valued at $43,000 after buying an additional 2,203 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of AdvanSix by 90.0% in the 4th quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock valued at $41,000 after acquiring an additional 1,117 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

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.