AdvanSix (NYSE:ASIX) Reaches New 1-Year High – Here’s Why

AdvanSix (NYSE:ASIX) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.54 and last traded at $25.3760, with a volume of 39723 shares traded. The stock had previously closed at $25.10.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Loop Capital set a $25.00 target price on shares of AdvanSix in a research report on Thursday, March 12th. Weiss Ratings raised AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 25th. Finally, Truist Financial boosted their price objective on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, AdvanSix currently has a consensus rating of “Hold” and an average price target of $25.67.

AdvanSix Trading Up 0.2%

The company has a 50 day simple moving average of $19.66 and a 200 day simple moving average of $18.41. The company has a market capitalization of $681.58 million, a PE ratio of 14.01 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.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%.The firm had revenue of $359.95 million for the quarter, compared to analyst estimates of $340.85 million. Analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were given a dividend of $0.16 per share. The ex-dividend date was Monday, March 9th. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. AdvanSix’s payout ratio is presently 35.36%.

Institutional Trading of AdvanSix

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in AdvanSix during the second quarter worth $29,000. Osaic Holdings Inc. raised its holdings 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 acquiring an additional 483 shares during the period. Versant Capital Management Inc grew its holdings in shares of AdvanSix by 185.2% in the third quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock valued at $42,000 after purchasing an additional 1,391 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of AdvanSix by 27,537.5% in the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock valued at $43,000 after purchasing an additional 2,203 shares during the period. Finally, 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. Institutional investors and hedge funds own 86.39% of the company’s stock.

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.