Short Interest in AdvanSix (NYSE:ASIX) Decreases By 40.5%

AdvanSix (NYSE:ASIX) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 708,824 shares, a drop of 40.5% from the December 15th total of 1,191,917 shares. Based on an average daily trading volume, of 878,210 shares, the short-interest ratio is presently 0.8 days. Approximately 2.8% of the company’s stock are sold short. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 878,210 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial started coverage on shares of AdvanSix in a report on Thursday. They issued a “hold” rating and a $19.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AdvanSix presently has a consensus rating of “Hold” and a consensus price target of $28.67.

Institutional Investors Weigh In On AdvanSix

Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in AdvanSix by 23.2% in the 1st quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock valued at $430,000 after buying an additional 3,575 shares during the period. AQR Capital Management LLC increased its stake in shares of AdvanSix by 35.7% during the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock worth $1,693,000 after acquiring an additional 19,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after acquiring an additional 604 shares during the period. Strs Ohio purchased a new position in AdvanSix during the first quarter worth about $344,000. Finally, Farther Finance Advisors LLC lifted its position in AdvanSix by 1,195.9% in the second quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock valued at $74,000 after purchasing an additional 2,882 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Performance

ASIX traded down $0.91 on Friday, reaching $17.03. The company had a trading volume of 464,329 shares, compared to its average volume of 583,644. The stock has a 50-day moving average price of $16.39 and a 200-day moving average price of $19.06. The stock has a market capitalization of $457.53 million, a PE ratio of 8.87 and a beta of 1.71. AdvanSix has a 1 year low of $14.10 and a 1 year high of $32.58. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.31.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, November 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.32). The firm had revenue of $374.47 million during the quarter, compared to analysts’ expectations of $365.00 million. AdvanSix had a net margin of 3.52% and a return on equity of 7.14%. As a group, research analysts forecast that AdvanSix will post 4 EPS for the current fiscal year.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, November 18th. AdvanSix’s dividend payout ratio (DPR) is presently 33.33%.

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.