AdvanSix (NYSE:ASIX) Short Interest Down 19.0% in March
by Danessa Lincoln · The Markets DailyAdvanSix (NYSE:ASIX – Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 631,964 shares, a drop of 19.0% from the March 15th total of 780,595 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 653,789 shares, the short-interest ratio is currently 1.0 days.
Institutional Trading of AdvanSix
Several hedge funds and other institutional investors have recently bought and sold shares of ASIX. Vanguard Group Inc. lifted its holdings in AdvanSix by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock worth $38,566,000 after buying an additional 10,642 shares during the last quarter. Aegis Financial Corp bought a new stake in shares of AdvanSix in the 4th quarter valued at approximately $20,927,000. American Century Companies Inc. raised its position in shares of AdvanSix by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after acquiring an additional 81,927 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of AdvanSix by 55.3% during the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after acquiring an additional 337,908 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in AdvanSix by 23.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 711,634 shares of the company’s stock worth $12,311,000 after purchasing an additional 135,650 shares during the last quarter. 86.39% of the stock is owned by institutional investors.
AdvanSix Stock Down 9.3%
Shares of AdvanSix stock traded down $2.20 on Friday, hitting $21.50. 405,112 shares of the company’s stock traded hands, compared to its average volume of 501,723. AdvanSix has a 52-week low of $14.10 and a 52-week high of $25.94. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26. The stock has a market cap of $577.68 million, a P/E ratio of 11.88 and a beta of 1.43. The firm’s 50-day moving average is $20.99 and its 200 day moving average is $18.66.
AdvanSix (NYSE:ASIX – Get Free Report) 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 net margin of 3.24% and a return on equity of 6.97%. The business had revenue of $359.95 million during the quarter, compared to analyst estimates of $340.85 million. Equities analysts anticipate that AdvanSix will post 4 earnings per share for the current year.
AdvanSix Dividend Announcement
The business also recently declared 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 presently 35.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Truist Financial boosted their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Wall Street Zen raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Loop Capital set a $25.00 target price on AdvanSix in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.67.
Check Out Our Latest Report on ASIX
AdvanSix Company Profile
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.