Shares of AdvanSix Inc (NYSE:ASIX) dropped 14.5% during trading on Wednesday . The company traded as low as $35.28 and last traded at $36.07. Approximately 985,675 shares were traded during trading, an increase of 213% from the average daily volume of 315,215 shares. The stock had previously closed at $42.19.
ASIX has been the subject of a number of recent research reports. Zacks Investment Research lowered AdvanSix from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. ValuEngine raised AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th.
The company has a debt-to-equity ratio of 0.66, a current ratio of 1.31 and a quick ratio of 0.87. The firm has a market capitalization of $1,100.00 and a price-to-earnings ratio of 12.02.
A number of institutional investors and hedge funds have recently modified their holdings of ASIX. Macquarie Group Ltd. bought a new stake in AdvanSix during the 3rd quarter worth approximately $123,000. Spirit of America Management Corp NY boosted its stake in shares of AdvanSix by 1,693.5% in the 4th quarter. Spirit of America Management Corp NY now owns 4,448 shares of the company’s stock worth $187,000 after buying an additional 4,200 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of AdvanSix in the 3rd quarter worth approximately $212,000. Virtu Financial LLC purchased a new position in shares of AdvanSix in the 4th quarter worth approximately $219,000. Finally, Commonwealth Equity Services Inc purchased a new position in shares of AdvanSix in the 3rd quarter worth approximately $236,000. 77.95% of the stock is owned by hedge funds and other institutional investors.
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AdvanSix Company Profile
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
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