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

by · The Markets Daily

AdvanSix (NYSE:ASIX – Get Free Report) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $16.26 and traded as high as $16.82. AdvanSix shares last traded at $16.7190, with a volume of 379,587 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 21st. Truist Financial cut their price objective on AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of AdvanSix from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AdvanSix currently has an average rating of “Reduce” and an average target price of $21.50.

Read Our Latest Stock Report on ASIX

AdvanSix Price Performance

The firm has a 50-day moving average of $16.26 and a 200-day moving average of $19.40. The stock has a market cap of $451.41 million, a PE ratio of -19.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70.

AdvanSix (NYSE:ASIX – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.20). The business had revenue of $430.81 million for the quarter, compared to analyst estimates of $426.00 million. AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. Research analysts predict that AdvanSix will post -0.15 EPS for the current year.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.64 dividend on an annualized basis and a yield of 3.8%. AdvanSix’s payout ratio is -96.97%.

Institutional Trading of AdvanSix

Several large investors have recently bought and sold shares of ASIX. CenterBook Partners LP increased its holdings in AdvanSix by 58.4% in the 3rd quarter. CenterBook Partners LP now owns 216,550 shares of the company’s stock worth $3,447,000 after acquiring an additional 79,866 shares during the last quarter. State of Wyoming grew its stake in shares of AdvanSix by 459.2% during the 3rd quarter. State of Wyoming now owns 4,899 shares of the company’s stock worth $78,000 after purchasing an additional 4,023 shares during the period. Signaturefd LLC increased its stake in AdvanSix by 278.1% during the third quarter. Signaturefd LLC now owns 1,724 shares of the company’s stock worth $27,000 after acquiring an additional 1,268 shares during the last quarter. Core Capital Management & Research inc. acquired a new position in AdvanSix in the second quarter valued at $2,766,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of AdvanSix in the second quarter valued at $49,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.

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