AdvanSix (NYSE:ASIX – Get Free Report)’s share price was down 4.8% during trading on Thursday . The company traded as low as $19.39 and last traded at $19.4950. 63,175 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 372,739 shares. The stock had previously closed at $20.48.
Wall Street Analyst Weigh In
ASIX has been the topic of a number of recent analyst reports. Loop Capital set a $25.00 target price on AdvanSix in a research report on Thursday, March 12th. Zacks Research raised shares of AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $22.50.
Check Out Our Latest Stock Analysis on ASIX
AdvanSix Stock Down 4.8%
AdvanSix (NYSE:ASIX – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The business had revenue of $404.18 million for the quarter, compared to analyst estimates of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. As a group, equities analysts forecast that AdvanSix will post 0.85 EPS for the current fiscal year.
AdvanSix Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. AdvanSix’s dividend payout ratio (DPR) is presently 172.97%.
Institutional Trading of AdvanSix
Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of AdvanSix during the 2nd quarter worth $29,000. Osaic Holdings Inc. grew its holdings in shares of AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after purchasing an additional 483 shares during the period. Hantz Financial Services Inc. increased its position in AdvanSix by 90.0% during the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after purchasing an additional 1,117 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after purchasing an additional 2,203 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in AdvanSix by 144.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company’s stock worth $57,000 after purchasing an additional 1,408 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
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.
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