AdvanSix (NYSE:ASIX) Shares Gap Up to $26.74

AdvanSix Inc. (NYSE:ASIX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $26.74, but opened at $27.80. AdvanSix shares last traded at $27.31, with a volume of 16,669 shares changing hands.

Analysts Set New Price Targets

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

AdvanSix Trading Up 3.4 %

The company has a market cap of $741.57 million, a price-to-earnings ratio of 892.30 and a beta of 1.70. The firm’s fifty day moving average price is $23.96 and its 200-day moving average price is $25.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.71.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Friday, May 3rd. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.02). The company had revenue of $336.83 million during the quarter, compared to analyst estimates of $344.63 million. AdvanSix had a return on equity of 0.06% and a net margin of 0.15%. On average, equities analysts expect that AdvanSix Inc. will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling

In other AdvanSix news, insider Erin N. Kane 6,921 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of ASIX. Victory Capital Management Inc. boosted its position in AdvanSix by 18.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,579,152 shares of the company’s stock worth $77,271,000 after purchasing an additional 401,322 shares during the period. First Eagle Investment Management LLC raised its stake in shares of AdvanSix by 12.8% in the first quarter. First Eagle Investment Management LLC now owns 459,607 shares of the company’s stock valued at $13,145,000 after purchasing an additional 52,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in AdvanSix by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 437,393 shares of the company’s stock worth $13,104,000 after acquiring an additional 24,543 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AdvanSix by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company’s stock worth $8,237,000 after acquiring an additional 7,925 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in AdvanSix by 39.8% during the fourth quarter. Wellington Management Group LLP now owns 183,499 shares of the company’s stock worth $5,498,000 after acquiring an additional 52,199 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

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.