AdvanSix (NYSE:ASIX) Reaches New 12-Month Low – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX) hit a new 52-week low on Thursday . The stock traded as low as $20.84 and last traded at $21.00, with a volume of 44186 shares changing hands. The stock had previously closed at $22.54.

Analyst Ratings Changes

Several analysts recently issued reports on ASIX shares. Piper Sandler dropped their target price on AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. UBS Group set a $35.00 price objective on AdvanSix in a report on Tuesday, March 18th. Finally, StockNews.com cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Monday, March 24th.

AdvanSix Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $543.57 million, a price-to-earnings ratio of 12.62 and a beta of 1.64. The company’s 50 day moving average is $26.85 and its 200-day moving average is $28.90.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.40. The company had revenue of $329.06 million during the quarter, compared to analysts’ expectations of $377.15 million. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. Equities research analysts anticipate that AdvanSix Inc. will post 4 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, March 10th. AdvanSix’s payout ratio is presently 39.75%.

Insider Buying and Selling

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the sale, the senior vice president now owns 36,363 shares of the company’s stock, valued at $808,713.12. The trade was a 9.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now owns 502,795 shares of the company’s stock, valued at approximately $15,179,381.05. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC bought a new position in shares of AdvanSix in the fourth quarter worth $94,000. Quantbot Technologies LP increased its holdings in AdvanSix by 618.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock valued at $132,000 after buying an additional 3,754 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of AdvanSix in the 4th quarter valued at approximately $137,000. State of Wyoming acquired a new position in shares of AdvanSix in the 4th quarter valued at approximately $156,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after acquiring an additional 1,396 shares during the period. Institutional investors own 86.39% of the company’s stock.

About AdvanSix

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.