AdvanSix Inc (NYSE:ASIX) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 457,500 shares, a drop of 10.2% from the August 31st total of 509,400 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 216,100 shares, the short-interest ratio is currently 2.1 days.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in AdvanSix by 274.6% during the 2nd quarter. Bank of Montreal Can now owns 2,952 shares of the company’s stock worth $30,000 after buying an additional 2,164 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in AdvanSix by 31.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 3,432 shares of the company’s stock worth $38,000 after buying an additional 826 shares during the last quarter. Royal Bank of Canada lifted its holdings in AdvanSix by 181.0% during the 1st quarter. Royal Bank of Canada now owns 13,925 shares of the company’s stock worth $133,000 after buying an additional 8,969 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in AdvanSix during the 1st quarter worth about $134,000. Finally, Bailard Inc. purchased a new stake in AdvanSix during the 2nd quarter worth about $160,000. 86.58% of the stock is owned by institutional investors.
NYSE:ASIX traded up $0.54 during midday trading on Friday, reaching $13.68. The company had a trading volume of 119,572 shares, compared to its average volume of 176,685. The firm has a market capitalization of $383.45 million, a price-to-earnings ratio of 14.87 and a beta of 1.94. The stock’s fifty day simple moving average is $13.09 and its 200-day simple moving average is $11.96. AdvanSix has a 12-month low of $8.06 and a 12-month high of $24.85. The company has a current ratio of 1.55, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.
AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. The company had revenue of $233.02 million during the quarter, compared to the consensus estimate of $243.40 million. AdvanSix had a return on equity of 6.27% and a net margin of 2.20%. As a group, sell-side analysts expect that AdvanSix will post 1.26 EPS for the current year.
Several research analysts have recently commented on ASIX shares. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of AdvanSix in a research report on Wednesday, August 12th. TheStreet lowered AdvanSix from a “c” rating to a “d+” rating in a report on Friday, July 31st. Finally, Zacks Investment Research upgraded AdvanSix from a “sell” rating to a “hold” rating in a report on Monday, September 28th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. AdvanSix presently has a consensus rating of “Buy” and an average price target of $17.67.
AdvanSix Company Profile
AdvanSix Inc manufactures and sells polymer resins. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.
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