AdvanSix (NYSE:ASIX) Share Price Passes Below Fifty Day Moving Average – Here’s Why

AdvanSix (NYSE:ASIX)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $21.05 and traded as low as $20.33. AdvanSix shares last traded at $20.4030, with a volume of 164,981 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on ASIX shares. Wall Street Zen downgraded AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, Zacks Research raised AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $22.50.

AdvanSix Price Performance

The company’s 50-day simple moving average is $21.00 and its 200-day simple moving average is $20.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 0.68. The stock has a market capitalization of $554.68 million, a price-to-earnings ratio of 55.61 and a beta of 1.30.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, May 8th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The firm had revenue of $404.18 million during the quarter, compared to analyst estimates of $364.90 million. AdvanSix had a net margin of 0.67% and a return on equity of 2.18%. Research analysts forecast that AdvanSix will post 0.85 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a $0.16 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.64 annualized dividend and a yield of 3.1%. AdvanSix’s payout ratio is 172.97%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Aegis Financial Corp bought a new stake in shares of AdvanSix in the fourth quarter valued at about $20,927,000. Millennium Management LLC acquired a new stake in AdvanSix in the 4th quarter worth about $11,479,000. Alliancebernstein L.P. boosted its holdings in AdvanSix by 55.3% in the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after purchasing an additional 337,908 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in AdvanSix by 78.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company’s stock valued at $17,770,000 after purchasing an additional 319,528 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of AdvanSix by 149.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 378,610 shares of the company’s stock worth $6,550,000 after purchasing an additional 226,756 shares in 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.