AdvanSix (NYSE:ASIX) Sets New 12-Month High – What’s Next?

AdvanSix (NYSE:ASIX) shares hit a new 52-week high on Thursday . The company traded as high as $25.54 and last traded at $25.3760, with a volume of 39723 shares trading hands. The stock had previously closed at $25.10.

Analyst Ratings Changes

ASIX has been the subject of a number of research analyst reports. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Truist Financial raised their price target on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Loop Capital set a $25.00 price objective on AdvanSix in a report on Thursday, March 12th. Finally, Weiss Ratings upgraded AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, AdvanSix currently has an average rating of “Hold” and a consensus target price of $25.67.

AdvanSix Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $19.32 and its two-hundred day moving average price is $18.33. The company has a market cap of $688.11 million, a P/E ratio of 14.13 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data 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. The firm 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%. As a group, sell-side analysts expect that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, March 9th. AdvanSix’s dividend payout ratio is 35.36%.

Institutional Investors Weigh In On AdvanSix

A number of institutional investors have recently modified their holdings of ASIX. Royal Bank of Canada raised its position in shares of AdvanSix by 23.2% during the 1st quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock worth $430,000 after purchasing an additional 3,575 shares during the period. AQR Capital Management LLC increased its position in AdvanSix by 35.7% in the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock worth $1,693,000 after buying an additional 19,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AdvanSix by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after buying an additional 604 shares during the last quarter. Creative Planning lifted its stake in AdvanSix by 13.2% in the second quarter. Creative Planning now owns 11,961 shares of the company’s stock valued at $284,000 after buying an additional 1,399 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of AdvanSix by 3.9% during the second quarter. Legal & General Group Plc now owns 66,121 shares of the company’s stock worth $1,570,000 after acquiring an additional 2,460 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

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.