AdvanSix (NYSE:ASIX) Shares Gap Up – Here’s Why

Shares of AdvanSix Inc. (NYSE:ASIX) gapped up before the market opened on Monday . The stock had previously closed at $23.48, but opened at $23.99. AdvanSix shares last traded at $24.69, with a volume of 48,052 shares traded.

Wall Street Analyst Weigh In

ASIX has been the subject of several research analyst reports. Piper Sandler set a $32.00 price objective on shares of AdvanSix in a research note on Monday. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, UBS Group set a $35.00 target price on shares of AdvanSix in a research note on Tuesday, March 18th.

AdvanSix Stock Performance

The stock has a market capitalization of $661.74 million, a P/E ratio of 15.29 and a beta of 1.59. The company’s 50-day moving average is $21.93 and its two-hundred day moving average is $27.02. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. The company had revenue of $329.06 million during the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. As a group, sell-side analysts anticipate that AdvanSix Inc. will post 4 EPS for the current fiscal year.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.59%. AdvanSix’s dividend payout ratio is currently 20.51%.

Insider Buying and Selling

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the sale, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at $808,713.12. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AdvanSix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC increased its position in shares of AdvanSix by 2.0% during the first quarter. Empowered Funds LLC now owns 161,339 shares of the company’s stock valued at $3,654,000 after purchasing an additional 3,217 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of AdvanSix by 599,160.0% during the first quarter. Jones Financial Companies Lllp now owns 389,519 shares of the company’s stock valued at $8,823,000 after acquiring an additional 389,454 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of AdvanSix by 58.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 31,423 shares of the company’s stock valued at $712,000 after acquiring an additional 11,617 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after acquiring an additional 604 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of AdvanSix by 9.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 105,828 shares of the company’s stock valued at $2,397,000 after acquiring an additional 9,388 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.