AdvanSix (NYSE:ASIX) Short Interest Down 22.9% in February

AdvanSix (NYSE:ASIX) was the recipient of 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. Based on an average daily volume of 387,687 shares, the short-interest ratio is currently 1.5 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 387,687 shares, the short-interest ratio is currently 1.5 days.

Analyst Ratings Changes

Several research firms have recently issued reports on ASIX. Wall Street Zen downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Truist Financial increased their target price on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of AdvanSix in a research report on Monday, December 29th. Finally, Loop Capital set a $25.00 price target on AdvanSix in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of AdvanSix by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock valued at $38,566,000 after purchasing an additional 10,642 shares during the period. Aegis Financial Corp bought a new position in shares of AdvanSix during the 4th quarter worth approximately $20,927,000. American Century Companies Inc. boosted its stake in AdvanSix by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after buying an additional 81,927 shares in the last quarter. Alliancebernstein L.P. boosted its stake 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 buying an additional 337,908 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in AdvanSix by 23.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 711,634 shares of the company’s stock valued at $12,311,000 after acquiring an additional 135,650 shares during the period. Institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Performance

ASIX traded down $0.30 during trading on Monday, reaching $20.30. 526,957 shares of the company’s stock were exchanged, compared to its average volume of 487,374. The company has a market capitalization of $545.43 million, a P/E ratio of 9.90 and a beta of 1.66. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $18.12 and a 200 day moving average price of $18.18. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $25.53.

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

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 9th. AdvanSix’s dividend payout ratio is 35.36%.

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.