AdvanSix (NYSE:ASIX) Shares Down 4.8% - Here's Why

Key Points

• AdvanSix shares fell 4.8% on Thursday, trading as low as $19.39 after closing at $20.48 the prior day, with volume sharply below average.
• Recent analyst actions have turned more cautious: ratings were cut or downgraded by multiple firms, and the stock now carries a consensus “Reduce” rating with a $22.50 price target.
• The company recently missed EPS estimates in its latest quarterly report, though revenue came in above expectations; it also paid a quarterly dividend of $0.16 per share, implying a 3.3% annualized yield.

AdvanSix (NYSE:ASIX - Get Free Report)'s share price was down 4.8% during trading on Thursday . The company traded as low as $19.39 and last traded at $19.4950. 63,175 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 372,739 shares. The stock had previously closed at $20.48.

Wall Street Analyst Weigh In

ASIX has been the topic of a number of recent analyst reports. Loop Capital set a $25.00 target price on AdvanSix in a research report on Thursday, March 12th. Zacks Research raised shares of AdvanSix to a "hold" rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of AdvanSix from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $22.50.

AdvanSix Stock Down 4.8%

The business has a fifty day simple moving average of $21.67 and a 200 day simple moving average of $20.37. The firm has a market cap of $525.59 million, a price-to-earnings ratio of 52.70 and a beta of 1.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 0.68.

AdvanSix (NYSE:ASIX - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). The business had revenue of $404.18 million for the quarter, compared to analyst estimates of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. As a group, equities analysts forecast that AdvanSix will post 0.85 EPS for the current fiscal year.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. AdvanSix's dividend payout ratio (DPR) is presently 172.97%.

Institutional Trading of AdvanSix

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of AdvanSix during the 2nd quarter worth $29,000. Osaic Holdings Inc. grew its holdings in shares of AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company's stock valued at $31,000 after purchasing an additional 483 shares during the period. Hantz Financial Services Inc. increased its position in AdvanSix by 90.0% during the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company's stock worth $41,000 after purchasing an additional 1,117 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company's stock worth $43,000 after purchasing an additional 2,203 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in AdvanSix by 144.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company's stock worth $57,000 after purchasing an additional 1,408 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

About AdvanSix

AdvanSix, Inc NYSE: ASIX is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.