AdvanSix (NYSE:ASIX) Sets New 52-Week Low - Here's Why

Key Points

• AdvanSix's stock reached a new 52-week low of $17.97 before closing at $18.98 amid increased trading volume.
• The company announced a quarterly dividend of $0.16 per share, reflecting an annualized yield of 3.4%, with the payout ratio currently at 22.54%.
• Institutional investors own 86.39% of AdvanSix's stock, with significant recent stakes being acquired by multiple hedge funds.

AdvanSix (NYSE:ASIX - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $17.97 and last traded at $18.98, with a volume of 63441 shares traded. The stock had previously closed at $18.13.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen lowered AdvanSix from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Piper Sandler set a $32.00 price target on AdvanSix in a research report on Monday, May 19th.

AdvanSix Trading Down 1.4%

The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $22.37 and a two-hundred day simple moving average of $23.66. The firm has a market cap of $520.96 million, a PE ratio of 6.83 and a beta of 1.60.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.64 annualized dividend and a yield of 3.3%. AdvanSix's dividend payout ratio (DPR) is 22.54%.

Institutional Investors Weigh In On AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of ASIX. JPMorgan Chase & Co. lifted its holdings in AdvanSix by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 110,289 shares of the company's stock worth $3,142,000 after buying an additional 5,705 shares during the period. Geode Capital Management LLC lifted its holdings in AdvanSix by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 602,303 shares of the company's stock worth $17,164,000 after buying an additional 3,818 shares during the period. Wells Fargo & Company MN lifted its holdings in AdvanSix by 22.9% in the 4th quarter. Wells Fargo & Company MN now owns 17,314 shares of the company's stock worth $493,000 after buying an additional 3,225 shares during the period. Envestnet Asset Management Inc. purchased a new stake in AdvanSix in the 4th quarter worth approximately $228,000. Finally, Invesco Ltd. lifted its stake in shares of AdvanSix by 8.5% in the 4th quarter. Invesco Ltd. now owns 267,656 shares of the company's stock valued at $7,626,000 after purchasing an additional 20,888 shares during the period. 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.