AdvanSix (NYSE:ASIX) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

AdvanSix (NYSE:ASIX) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $16.26 and traded as high as $16.82. AdvanSix shares last traded at $16.7190, with a volume of 379,587 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Finally, Truist Financial cut their target price on shares of AdvanSix from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $21.50.

AdvanSix Trading Up 2.9%

The firm has a market capitalization of $451.43 million, a price-to-earnings ratio of -19.90 and a beta of 1.27. The business has a 50-day moving average of $16.26 and a two-hundred day moving average of $19.40. The company has a quick ratio of 0.70, a current ratio of 1.20 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.20). AdvanSix had a negative net margin of 1.40% and a negative return on equity of 2.29%. The firm had revenue of $430.81 million during the quarter, compared to analyst estimates of $426.00 million. Research analysts predict that AdvanSix will post -0.15 EPS for the current fiscal year.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.8%. AdvanSix’s payout ratio is currently -76.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in AdvanSix in the 2nd quarter valued at $48,517,000. Dimensional Fund Advisors LP lifted its holdings in shares of AdvanSix by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company’s stock worth $31,988,000 after acquiring an additional 8,131 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AdvanSix by 78.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company’s stock worth $17,770,000 after acquiring an additional 319,528 shares during the period. Solas Capital Management LLC boosted its position in shares of AdvanSix by 10.5% during the 2nd quarter. Solas Capital Management LLC now owns 571,324 shares of the company’s stock valued at $11,358,000 after acquiring an additional 54,295 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of AdvanSix during the 2nd quarter valued at about $6,017,000. 86.39% of the stock is owned by institutional investors.

About AdvanSix

AdvanSix Inc (NYSE:ASIX) is a diversified chemistry company that manufactures and sells polymer resins, chemical intermediates and performance products. Its portfolio includes nylon 6 resin, caprolactam, ammonium sulfate fertilizer, acetone and other chemical products used in a range of industrial and consumer applications.

The company’s nylon 6 products are used in fibers, engineered plastics, films, automotive components, electrical and electronics products, and other applications. Its chemical intermediates support the production of coatings, adhesives, solvents and other materials, while its ammonium sulfate products are marketed as nitrogen and sulfur fertilizers for agricultural use.

AdvanSix was established as an independent, publicly traded company in 2016 following its separation from Honeywell International.