AdvanSix (NYSE:ASIX) Shares Down 4.8% – Here’s What Happened

AdvanSix (NYSE:ASIX) was down 4.8% during mid-day trading on Thursday . The company traded as low as $19.39 and last traded at $19.4950. Approximately 63,175 shares traded hands during trading, a decline of 83% from the average daily volume of 372,739 shares. The stock had previously closed at $20.48.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Loop Capital set a $25.00 price target on shares of AdvanSix in a research report on Thursday, March 12th. Wall Street Zen cut AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Finally, Zacks Research raised AdvanSix to a “hold” rating in a research note 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $22.50.

AdvanSix Trading Down 4.8%

The business’s 50-day simple moving average is $21.67 and its two-hundred day simple moving average is $20.37. The firm has a market capitalization of $525.59 million, a price-to-earnings ratio of 52.70 and a beta of 1.30. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.

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

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, May 19th. AdvanSix’s dividend payout ratio is 172.97%.

Institutional Investors Weigh In On AdvanSix

A number of institutional investors have recently modified their holdings of ASIX. Raymond James Financial Inc. purchased a new stake in shares of AdvanSix in the 2nd quarter valued at $29,000. Osaic Holdings Inc. boosted its holdings in AdvanSix by 60.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after acquiring an additional 483 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after purchasing an additional 2,203 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of AdvanSix by 90.0% during the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of AdvanSix by 144.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company’s stock valued at $57,000 after purchasing an additional 1,408 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

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.