AdvanSix (NYSE:ASIX) Hits New 12-Month High – Still a Buy?

AdvanSix (NYSE:ASIX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.43 and last traded at $26.17, with a volume of 91288 shares changing hands. The stock had previously closed at $25.42.

Analyst Ratings Changes

Several equities analysts recently commented on ASIX shares. Loop Capital set a $25.00 price objective on AdvanSix in a research note on Thursday, March 12th. Truist Financial boosted their target price on shares of AdvanSix from $19.00 to $20.00 and gave the company 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 report on Saturday, April 11th. Finally, Weiss Ratings raised shares of AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, AdvanSix presently has a consensus rating of “Hold” and a consensus target price of $25.67.

AdvanSix Price Performance

The firm’s 50-day moving average is $21.87 and its 200-day moving average is $18.85. The company has a market capitalization of $707.40 million, a PE ratio of 14.50 and a beta of 1.33. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The company had revenue of $359.95 million during the quarter, compared to analyst estimates of $340.85 million.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were given a $0.16 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.64 annualized dividend and a yield of 2.4%. AdvanSix’s payout ratio is 35.36%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invenomic Capital Management LP purchased a new stake in AdvanSix during the third quarter valued at about $6,054,000. American Century Companies Inc. boosted its position in AdvanSix by 9.3% during the third quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after buying an additional 81,927 shares during the period. SG Americas Securities LLC boosted its position in AdvanSix by 1,145.9% during the fourth quarter. SG Americas Securities LLC now owns 67,812 shares of the company’s stock valued at $1,173,000 after buying an additional 62,369 shares during the period. Waterfront Wealth Inc. boosted its position in AdvanSix by 380.7% during the fourth quarter. Waterfront Wealth Inc. now owns 67,250 shares of the company’s stock valued at $1,141,000 after buying an additional 53,261 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its position in AdvanSix by 15.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 293,768 shares of the company’s stock valued at $5,082,000 after buying an additional 38,611 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

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.