AdvanSix (NYSE:ASIX) Short Interest Update

AdvanSix (NYSE:ASIX) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 567,388 shares, a decline of 22.9% from the February 12th total of 735,878 shares. Based on an average trading volume of 387,687 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.2% of the company’s shares are sold short. Approximately 2.2% of the company’s shares are sold short. Based on an average trading volume of 387,687 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Trading of AdvanSix

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its position 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AdvanSix by 4.2% in the first 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. Sheets Smith Wealth Management grew its holdings in shares of AdvanSix by 3.8% in the fourth quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock worth $309,000 after purchasing an additional 659 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in AdvanSix by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock worth $234,000 after buying an additional 746 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its holdings in AdvanSix by 8.8% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock valued at $257,000 after buying an additional 1,022 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Trading Down 1.8%

AdvanSix stock traded down $0.39 during midday trading on Friday, reaching $20.61. The stock had a trading volume of 577,838 shares, compared to its average volume of 487,374. 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 firm has a market cap of $553.66 million, a price-to-earnings ratio of 11.38 and a beta of 1.66. AdvanSix has a 52-week low of $14.10 and a 52-week high of $25.53. The company has a fifty day moving average of $18.05 and a 200 day moving average of $18.18.

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

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. AdvanSix’s payout ratio is presently 35.36%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. Truist Financial boosted their target price on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Loop Capital set a $25.00 price target on AdvanSix in a report on Thursday. Finally, Wall Street Zen lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.00.

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.