AdvanSix (NYSE:ASIX) Hits New 1-Year Low – Here’s Why

AdvanSix Inc. (NYSE:ASIX) shares hit a new 52-week low during mid-day trading 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.

Wall Street Analyst Weigh In

A number of research firms have commented on ASIX. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. UBS Group set a $35.00 price target on shares of AdvanSix in a report on Tuesday, March 18th. Finally, Piper Sandler dropped their target price on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th.

AdvanSix Stock Down 7.9 %

The company has a market cap of $554.91 million, a P/E ratio of 12.89 and a beta of 1.64. The firm’s 50 day moving average price is $27.30 and its 200-day moving average price is $29.01. The company has a current ratio of 1.08, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.40. The business had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. As a group, equities research analysts expect that AdvanSix Inc. will post 4 EPS for the current year.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. AdvanSix’s payout ratio is presently 39.75%.

Insiders Place Their Bets

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total transaction of $88,960.00. Following the sale, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at $808,713.12. This represents a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $30.19, for a total value of $150,950.00. Following the completion of the transaction, the chief executive officer now owns 502,795 shares of the company’s stock, valued at $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. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On AdvanSix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC bought a new position in AdvanSix in the 4th quarter worth $94,000. Quantbot Technologies LP raised its holdings in shares of AdvanSix by 618.5% in the third quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock valued at $132,000 after acquiring an additional 3,754 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of AdvanSix in the 4th quarter valued at $137,000. State of Wyoming purchased a new stake in shares of AdvanSix during the 4th quarter valued at $156,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after buying an additional 1,396 shares during the last quarter. Hedge funds and other 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.