AdvanSix (NYSE:ASIX) Sets New 1-Year Low - What's Next?

Key Points

• AdvanSix's stock has reached a new 52-week low, trading at $18.02 after a significant drop from a previous closing price of $18.66.
• Analysts have downgraded AdvanSix's shares from a "strong-buy" rating to a "buy" rating, with a price target set at $32.00 by Piper Sandler.
• The company declared a quarterly dividend of $0.16 per share, resulting in an annualized yield of 3.6% and a low dividend payout ratio of 22.54%.

AdvanSix (NYSE:ASIX - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $17.99 and last traded at $18.02, with a volume of 238545 shares traded. The stock had previously closed at $18.66.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen lowered AdvanSix from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Piper Sandler set a $32.00 target price on AdvanSix in a report on Monday, May 19th.

AdvanSix Price Performance

The firm has a market cap of $486.34 million, a P/E ratio of 6.38 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $22.92 and its two-hundred day moving average is $24.24.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. AdvanSix's dividend payout ratio (DPR) is 22.54%.

Institutional Investors Weigh In On AdvanSix

Several institutional investors and hedge funds have recently made changes to their positions in ASIX. Victory Capital Management Inc. boosted its position in shares of AdvanSix by 0.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,407,512 shares of the company's stock worth $54,530,000 after purchasing an additional 15,367 shares in the last quarter. Vanguard Group Inc. raised its stake in AdvanSix by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,981,063 shares of the company's stock worth $44,871,000 after buying an additional 29,963 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AdvanSix by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,578,908 shares of the company's stock worth $44,982,000 after acquiring an additional 12,793 shares in the last quarter. American Century Companies Inc. grew its stake in AdvanSix by 11.3% in the first quarter. American Century Companies Inc. now owns 823,706 shares of the company's stock valued at $18,657,000 after acquiring an additional 83,678 shares during the period. Finally, Wellington Management Group LLP grew its stake in AdvanSix by 5.7% in the first quarter. Wellington Management Group LLP now owns 712,431 shares of the company's stock valued at $16,137,000 after acquiring an additional 38,546 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.