AdvanSix (NYSE:ASIX) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

AdvanSix (NYSE:ASIX – Get Free Report) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $16.53 and traded as low as $15.27. AdvanSix shares last traded at $15.6650, with a volume of 220,396 shares.

Wall Street Analyst Weigh In

Several analysts have commented on ASIX shares. Truist Financial dropped their price objective on AdvanSix from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Weiss Ratings downgraded AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Finally, Wall Street Zen downgraded AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $21.50.

View Our Latest Stock Report on AdvanSix

AdvanSix Trading Up 0.0%

The company has a current ratio of 1.28, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $423.54 million, a price-to-earnings ratio of -23.77 and a beta of 1.34. The company has a fifty day moving average of $16.50 and a 200-day moving average of $19.68.

AdvanSix (NYSE:ASIX – Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The firm had revenue of $421.28 million for the quarter, compared to analyst estimates of $452.00 million. AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. As a group, equities research analysts anticipate that AdvanSix will post -0.15 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were issued a $0.16 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.64 dividend on an annualized basis and a yield of 4.1%. AdvanSix’s dividend payout ratio (DPR) is presently -96.97%.

Institutional Investors Weigh In On AdvanSix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in AdvanSix during the 2nd quarter valued at about $48,517,000. Arrowstreet Capital Limited Partnership raised its holdings in AdvanSix by 78.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company’s stock valued at $17,770,000 after acquiring an additional 319,528 shares during the last quarter. Empowered Funds LLC acquired a new stake in AdvanSix in the 2nd quarter valued at about $6,017,000. Donald Smith & CO. Inc. purchased a new position in AdvanSix in the 2nd quarter worth approximately $4,228,000. Finally, Bank of America Corp DE purchased a new position in AdvanSix in the 2nd quarter worth approximately $2,922,000. Institutional investors and hedge funds own 86.39% of the company’s stock.

About AdvanSix

(Get Free Report)

AdvanSix Inc (NYSE:ASIX) is a diversified chemistry company that manufactures and sells polymer resins, chemical intermediates and performance products. Its portfolio includes nylon 6 resin, caprolactam, ammonium sulfate fertilizer, acetone and other chemical products used in a range of industrial and consumer applications.

The company’s nylon 6 products are used in fibers, engineered plastics, films, automotive components, electrical and electronics products, and other applications. Its chemical intermediates support the production of coatings, adhesives, solvents and other materials, while its ammonium sulfate products are marketed as nitrogen and sulfur fertilizers for agricultural use.

AdvanSix was established as an independent, publicly traded company in 2016 following its separation from Honeywell International.

Further Reading

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