AdvanSix (NYSE:ASIX) Sees Large Drop in Short Interest

AdvanSix (NYSE:ASIX) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 631,964 shares, a decrease of 19.0% from the March 15th total of 780,595 shares. Based on an average daily trading volume, of 653,789 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.5% of the company’s shares are short sold.

Institutional Trading of AdvanSix

Several large investors have recently modified their holdings of ASIX. Raymond James Financial Inc. acquired a new stake in shares of AdvanSix during the 2nd quarter worth approximately $29,000. Osaic Holdings Inc. grew its position in shares of AdvanSix by 60.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after buying an additional 483 shares during the period. Hantz Financial Services Inc. grew its position in shares of AdvanSix by 90.0% during the 4th quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after buying an additional 1,117 shares during the period. Versant Capital Management Inc grew its position in shares of AdvanSix by 185.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock worth $42,000 after buying an additional 1,391 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of AdvanSix by 27,537.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after buying an additional 2,203 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASIX. Loop Capital set a $25.00 price objective on AdvanSix in a research note on Thursday, March 12th. Weiss Ratings downgraded AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Wall Street Zen raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Truist Financial increased their target price on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, AdvanSix has a consensus rating of “Hold” and an average price target of $25.67.

AdvanSix Trading Down 9.3%

Shares of NYSE:ASIX traded down $2.20 during midday trading on Friday, reaching $21.50. The company’s stock had a trading volume of 405,112 shares, compared to its average volume of 501,723. The firm has a market capitalization of $577.68 million, a price-to-earnings ratio of 11.88 and a beta of 1.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The firm has a 50 day moving average price of $20.99 and a two-hundred day moving average price of $18.66. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $25.94.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $359.95 million for the quarter, compared to the consensus estimate of $340.85 million. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%. As a group, analysts forecast 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 Monday, March 23rd. Stockholders of record on Monday, March 9th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.0%. AdvanSix’s dividend payout ratio (DPR) is 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.