AdvanSix (NYSE:ASIX) Sees Significant Increase in Short Interest

AdvanSix (NYSE:ASIX) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 780,595 shares, an increase of 37.6% from the February 26th total of 567,388 shares. Based on an average trading volume of 625,830 shares, the days-to-cover ratio is currently 1.2 days. Approximately 3.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Loop Capital set a $25.00 price objective on shares of AdvanSix in a report on Thursday, March 12th. Weiss Ratings upgraded shares of AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Truist Financial increased their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of AdvanSix during the fourth quarter worth $612,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of AdvanSix in the fourth quarter valued at about $246,000. Empowered Funds LLC increased its position in AdvanSix by 10.8% during the fourth quarter. Empowered Funds LLC now owns 144,284 shares of the company’s stock worth $2,496,000 after acquiring an additional 14,084 shares during the period. XTX Topco Ltd acquired a new stake in AdvanSix in the 4th quarter worth about $443,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of AdvanSix during the fourth quarter worth approximately $984,000. 86.39% of the stock is owned by institutional investors and hedge funds.

AdvanSix Stock Performance

Shares of ASIX stock traded up $0.07 during midday trading on Monday, hitting $24.13. 313,567 shares of the company were exchanged, compared to its average volume of 451,248. AdvanSix has a 52 week low of $14.10 and a 52 week high of $25.53. The firm has a market capitalization of $648.45 million, a P/E ratio of 13.33 and a beta of 1.66. The firm’s 50 day moving average price is $18.86 and its two-hundred day moving average price is $18.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13.

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

AdvanSix Announces Dividend

The company also recently declared 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. This represents a $0.64 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, March 9th. AdvanSix’s dividend payout ratio (DPR) is presently 35.36%.

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.