Short Interest in AdvanSix Inc. (NYSE:ASIX) Rises By 12.3%

AdvanSix Inc. (NYSE:ASIX) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 325,200 shares, an increase of 12.3% from the May 31st total of 289,500 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average trading volume of 133,600 shares, the days-to-cover ratio is presently 2.4 days.

Insider Transactions at AdvanSix

In other news, SVP Achilles B. Kintiroglou sold 3,661 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $25.23, for a total value of $92,367.03. Following the completion of the transaction, the senior vice president now directly owns 35,335 shares of the company’s stock, valued at $891,502.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Erin N. Kane sold 3,002 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $28.08, for a total transaction of $84,296.16. Following the completion of the transaction, the chief executive officer now directly owns 552,755 shares of the company’s stock, valued at approximately $15,521,360.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Achilles B. Kintiroglou sold 3,661 shares of AdvanSix stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $25.23, for a total transaction of $92,367.03. Following the completion of the sale, the senior vice president now directly owns 35,335 shares in the company, valued at approximately $891,502.05. The disclosure for this sale can be found here. Insiders sold a total of 7,013 shares of company stock worth $184,713 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of AdvanSix

Large investors have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in AdvanSix by 2.0% in the fourth quarter. SG Americas Securities LLC now owns 19,900 shares of the company’s stock valued at $596,000 after purchasing an additional 388 shares in the last quarter. New York State Common Retirement Fund lifted its stake in AdvanSix by 2.9% during the fourth quarter. New York State Common Retirement Fund now owns 24,364 shares of the company’s stock worth $730,000 after purchasing an additional 698 shares during the last quarter. Copeland Capital Management LLC purchased a new position in shares of AdvanSix in the 4th quarter worth about $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AdvanSix by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,208 shares of the company’s stock valued at $246,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of AdvanSix by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 32,400 shares of the company’s stock valued at $971,000 after buying an additional 1,346 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of AdvanSix in a research note on Tuesday, April 9th.

AdvanSix Price Performance

NYSE ASIX traded down $0.01 during trading hours on Wednesday, hitting $22.15. The company had a trading volume of 46,649 shares, compared to its average volume of 146,318. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.38. The firm has a market capitalization of $594.06 million, a price-to-earnings ratio of 738.25 and a beta of 1.70. AdvanSix has a 52 week low of $21.55 and a 52 week high of $40.85. The firm has a 50 day simple moving average of $23.85 and a 200 day simple moving average of $26.13.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, May 3rd. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.02). The firm had revenue of $336.83 million during 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 expect that AdvanSix will post 1.22 earnings per share for the current year.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.16 per share. The ex-dividend date was Monday, May 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.89%. AdvanSix’s dividend payout ratio (DPR) is currently 2,134.04%.

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.