AdvanSix Inc. (NYSE:ASIX) Sees Large Increase in Short Interest

AdvanSix Inc. (NYSE:ASIX - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 470,400 shares, a growth of 19.5% from the April 30th total of 393,500 shares. Based on an average daily trading volume, of 208,100 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.8% of the shares of the stock are sold short.

AdvanSix Stock Down 0.3%

NYSE:ASIX traded down $0.06 during midday trading on Wednesday, reaching $23.78. 123,194 shares of the stock traded hands, compared to its average volume of 152,887. AdvanSix has a 12-month low of $18.44 and a 12-month high of $33.00. The business has a 50-day moving average of $22.05 and a two-hundred day moving average of $26.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 1.08. The stock has a market capitalization of $637.61 million, a PE ratio of 14.77 and a beta of 1.59.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.16 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.69%. AdvanSix's dividend payout ratio is currently 20.51%.

Insider Transactions at AdvanSix

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total transaction of $88,960.00. Following the completion of the transaction, the senior vice president now directly owns 36,363 shares of the company's stock, valued at approximately $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company's stock.

Institutional Trading of AdvanSix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASIX. Ameriprise Financial Inc. increased its stake in shares of AdvanSix by 0.3% in the fourth quarter. Ameriprise Financial Inc. now owns 135,127 shares of the company's stock worth $3,850,000 after acquiring an additional 450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AdvanSix by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,543 shares of the company's stock worth $414,000 after purchasing an additional 508 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in shares of AdvanSix by 1.1% during the 1st quarter. Oliver Luxxe Assets LLC now owns 49,805 shares of the company's stock valued at $1,128,000 after buying an additional 543 shares during the period. Nilsine Partners LLC lifted its position in AdvanSix by 2.8% in the first quarter. Nilsine Partners LLC now owns 21,891 shares of the company's stock valued at $496,000 after buying an additional 603 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of AdvanSix by 22.3% during the first quarter. AlphaQuest LLC now owns 4,014 shares of the company's stock worth $91,000 after buying an additional 731 shares during the period. Institutional investors and hedge funds own 86.39% of the company's stock.

Analyst Ratings Changes

ASIX has been the subject of several recent research reports. Piper Sandler set a $32.00 price target on AdvanSix in a research report on Monday, May 19th. UBS Group set a $35.00 price target on shares of AdvanSix in a research note on Tuesday, March 18th. Finally, Wall Street Zen raised shares of AdvanSix from a "buy" rating to a "strong-buy" rating in a research report on Saturday.

AdvanSix Company Profile

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.

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