AdvanSix (NYSE:ASIX) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of AdvanSix (NYSE:ASIX) passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $16.53 and traded as low as $15.27. AdvanSix shares last traded at $15.6650, with a volume of 220,396 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASIX. Weiss Ratings cut shares of AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wall Street Zen cut shares of AdvanSix from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Truist Financial decreased their price objective on shares of AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AdvanSix currently has an average rating of “Reduce” and a consensus price target of $21.50.

AdvanSix Trading Up 1.5%

The company has a market capitalization of $422.95 million, a P/E ratio of -23.73 and a beta of 1.34. The stock has a 50 day moving average of $16.53 and a 200-day moving average of $19.70. The company has a current ratio of 1.28, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. The company had revenue of $421.28 million for the quarter, compared to the consensus estimate of $452.00 million. On average, research analysts predict that AdvanSix will post -0.15 EPS for the current year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, August 18th. AdvanSix’s dividend payout ratio (DPR) is -96.97%.

Hedge Funds Weigh In On AdvanSix

A number of large investors have recently bought and sold shares of ASIX. Squarepoint Ops LLC increased its position in shares of AdvanSix by 125.5% during the second quarter. Squarepoint Ops LLC now owns 82,246 shares of the company’s stock worth $1,635,000 after acquiring an additional 45,775 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AdvanSix by 10,287.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,873 shares of the company’s stock valued at $1,906,000 after acquiring an additional 94,950 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of AdvanSix in the second quarter valued at approximately $48,517,000. Bank of New York Mellon Corp purchased a new stake in shares of AdvanSix in the second quarter valued at approximately $1,914,000. Finally, Solas Capital Management LLC boosted its holdings in shares of AdvanSix by 10.5% in the second quarter. Solas Capital Management LLC now owns 571,324 shares of the company’s stock valued at $11,358,000 after purchasing an additional 54,295 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 a diversified chemistry company that manufactures and sells polymer resins, chemical intermediates and performance products. Its portfolio includes nylon 6 resin, caprolactam, ammonium sulfate fertilizer, acetone and other chemical products used in a range of industrial and consumer applications.

The company’s nylon 6 products are used in fibers, engineered plastics, films, automotive components, electrical and electronics products, and other applications. Its chemical intermediates support the production of coatings, adhesives, solvents and other materials, while its ammonium sulfate products are marketed as nitrogen and sulfur fertilizers for agricultural use.

AdvanSix was established as an independent, publicly traded company in 2016 following its separation from Honeywell International.