AdvanSix (NYSE:ASIX) Stock Price Up 7.6% – Here’s Why

AdvanSix (NYSE:ASIX) traded up 7.6% during trading on Tuesday . The stock traded as high as $22.91 and last traded at $22.88. 195,051 shares were traded during trading, a decline of 56% from the average session volume of 443,854 shares. The stock had previously closed at $21.27.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASIX. Loop Capital set a $25.00 price target on AdvanSix in a research note on Thursday, March 12th. Truist Financial increased their price objective on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a report on Monday, February 23rd. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.67.

AdvanSix Trading Up 8.5%

The business has a 50 day moving average of $18.39 and a two-hundred day moving average of $18.17. The firm has a market cap of $620.18 million, a P/E ratio of 12.77 and a beta of 1.66. The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, February 20th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm 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%. Analysts predict that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 2.8%. AdvanSix’s payout ratio is presently 35.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASIX. Raymond James Financial Inc. bought a new stake in shares of AdvanSix during the second quarter worth approximately $29,000. Osaic Holdings Inc. increased its stake in shares of AdvanSix by 60.2% during the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after purchasing an additional 483 shares during the period. Hantz Financial Services Inc. increased its stake 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 during the period. Versant Capital Management Inc lifted its holdings in AdvanSix by 185.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock worth $42,000 after purchasing an additional 1,391 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in AdvanSix by 27,537.5% during the 3rd 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 during the last quarter. 86.39% of the stock is owned by institutional investors.

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.