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

AdvanSix Inc. (NYSE:ASIXGet Free Report) was the target of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 289,500 shares, a decrease of 7.4% from the May 15th total of 312,600 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 129,600 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price objective on shares of AdvanSix in a research report on Tuesday, April 9th.

Read Our Latest Stock Analysis on AdvanSix

Insiders Place Their Bets

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.69, for a total value of $110,760.00. Following the completion of the sale, the senior vice president now directly owns 38,996 shares of the company’s stock, valued at $1,079,799.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of AdvanSix stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.69, for a total value of $110,760.00. Following the sale, the senior vice president now directly owns 38,996 shares in the company, valued at approximately $1,079,799.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $28.30, for a total transaction of $141,500.00. Following the transaction, the chief executive officer now directly owns 557,755 shares of the company’s stock, valued at approximately $15,784,466.50. The disclosure for this sale can be found here. Insiders sold a total of 17,048 shares of company stock worth $467,648 over the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AdvanSix

Hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in AdvanSix in the fourth quarter worth about $27,000. Quadrature Capital Ltd acquired a new stake in AdvanSix in the third quarter valued at approximately $204,000. Aigen Investment Management LP acquired a new position in shares of AdvanSix during the fourth quarter worth $208,000. Inspire Advisors LLC purchased a new stake in shares of AdvanSix during the 1st quarter valued at $200,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of AdvanSix in the 1st quarter worth $215,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix Stock Down 0.2 %

NYSE:ASIX traded down $0.04 during mid-day trading on Wednesday, reaching $23.09. The company’s stock had a trading volume of 114,947 shares, compared to its average volume of 122,818. The company has a quick ratio of 0.71, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. AdvanSix has a 1 year low of $21.55 and a 1 year high of $40.85. The stock has a fifty day moving average of $24.75 and a 200-day moving average of $26.46. The firm has a market capitalization of $619.27 million, a PE ratio of 769.76 and a beta of 1.68.

AdvanSix (NYSE:ASIXGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.02). The business had revenue of $336.83 million for the quarter, compared to the consensus estimate of $344.63 million. AdvanSix had a net margin of 0.15% and a return on equity of 0.06%. Equities research analysts forecast that AdvanSix will post 1.15 earnings per share for the current year.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.77%. AdvanSix’s dividend payout ratio is presently 2,134.04%.

AdvanSix Company Profile

(Get Free Report)

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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