Short Interest in AdvanSix (NYSE:ASIX) Decreases By 40.5%

AdvanSix (NYSE:ASIX) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 708,824 shares, a drop of 40.5% from the December 15th total of 1,191,917 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily volume of 878,210 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 878,210 shares, the short-interest ratio is presently 0.8 days. Currently, 2.8% of the shares of the company are sold short.

AdvanSix Price Performance

Shares of NYSE ASIX traded down $0.91 during trading on Friday, reaching $17.03. The company had a trading volume of 464,329 shares, compared to its average volume of 583,644. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.31. AdvanSix has a twelve month low of $14.10 and a twelve month high of $32.58. The stock has a 50-day moving average price of $16.39 and a two-hundred day moving average price of $19.10. The stock has a market capitalization of $457.60 million, a PE ratio of 8.87 and a beta of 1.71.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32). AdvanSix had a return on equity of 7.14% and a net margin of 3.52%.The company had revenue of $374.47 million for the quarter, compared to analysts’ expectations of $365.00 million. As a group, sell-side analysts predict that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, November 18th. AdvanSix’s dividend payout ratio is presently 33.33%.

Hedge Funds Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently bought and sold shares of ASIX. Royal Bank of Canada lifted its holdings in AdvanSix by 23.2% in the 1st quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock worth $430,000 after buying an additional 3,575 shares in the last quarter. AQR Capital Management LLC raised its position in shares of AdvanSix by 35.7% during the 1st quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock worth $1,693,000 after purchasing an additional 19,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AdvanSix by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after purchasing an additional 604 shares during the last quarter. Strs Ohio acquired a new position in AdvanSix during the 1st quarter valued at approximately $344,000. Finally, Farther Finance Advisors LLC increased its position in AdvanSix by 1,195.9% in the second quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock worth $74,000 after buying an additional 2,882 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Truist Financial started coverage on AdvanSix in a report on Thursday. They set a “hold” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.67.

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.