Shares of AdvanSix Inc (NYSE:ASIX) fell 14.5% during mid-day trading on Wednesday . The stock traded as low as $35.28 and last traded at $36.07. 985,675 shares traded hands during mid-day trading, an increase of 213% from the average session volume of 315,215 shares. The stock had previously closed at $42.19.
Several brokerages have recently issued reports on ASIX. Zacks Investment Research lowered shares of AdvanSix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. ValuEngine upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th.
The stock has a market capitalization of $1,099.49, a PE ratio of 7.76 and a beta of 0.62. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 0.66.
AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The firm had revenue of $370.39 million for the quarter, compared to analyst estimates of $365.40 million. AdvanSix had a net margin of 9.94% and a return on equity of 32.17%. AdvanSix’s revenue was up 42.8% compared to the same quarter last year. equities analysts expect that AdvanSix Inc will post 3.28 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new position in AdvanSix during the third quarter worth about $123,000. Spirit of America Management Corp NY boosted its position in AdvanSix by 1,693.5% during the fourth quarter. Spirit of America Management Corp NY now owns 4,448 shares of the company’s stock worth $187,000 after acquiring an additional 4,200 shares during the last quarter. Stifel Financial Corp acquired a new position in AdvanSix during the third quarter worth about $212,000. Virtu Financial LLC acquired a new position in AdvanSix during the fourth quarter worth about $219,000. Finally, Commonwealth Equity Services Inc acquired a new position in AdvanSix during the third quarter worth about $236,000. Hedge funds and other institutional investors own 77.95% of the company’s stock.
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AdvanSix Company Profile
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
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