AdvanSix (NYSE:ASIX) Hits New 1-Year Low - Time to Sell?

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 company 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 research analysts have commented on the company. Wall Street Zen cut AdvanSix from a "buy" rating to a "hold" rating in a research note on Sunday. Piper Sandler set a $32.00 price objective on AdvanSix in a research note on Monday, May 19th.

AdvanSix Stock Performance

The stock has a 50 day simple moving average of $22.81 and a 200 day simple moving average of $24.09. The company has a market cap of $486.41 million, a price-to-earnings 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.

AdvanSix Dividend Announcement

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

Institutional Trading of AdvanSix

A number of hedge funds and other institutional investors have recently modified their holdings of ASIX. Creative Planning increased its holdings in AdvanSix by 13.2% in the second quarter. Creative Planning now owns 11,961 shares of the company's stock valued at $284,000 after buying an additional 1,399 shares during the last quarter. Geode Capital Management LLC increased its holdings in AdvanSix by 1.9% in the second quarter. Geode Capital Management LLC now owns 632,512 shares of the company's stock valued at $15,023,000 after buying an additional 11,880 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in AdvanSix by 235.7% in the second quarter. Campbell & CO Investment Adviser LLC now owns 79,282 shares of the company's stock valued at $1,883,000 after buying an additional 55,666 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in AdvanSix in the second quarter valued at about $216,000. Finally, Versor Investments LP increased its holdings in AdvanSix by 48.7% in the second quarter. Versor Investments LP now owns 21,295 shares of the company's stock valued at $506,000 after buying an additional 6,970 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.