AdvanSix (NYSE:ASIX) Shares Gap Up - Here's Why

AdvanSix Inc. (NYSE:ASIX - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $28.37, but opened at $31.00. AdvanSix shares last traded at $29.89, with a volume of 38,276 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of AdvanSix from a "hold" rating to a "buy" rating in a research note on Monday, August 5th.

AdvanSix Price Performance

The company has a 50-day moving average of $29.32 and a 200-day moving average of $26.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.39. The stock has a market cap of $773.25 million, a price-to-earnings ratio of 99.74 and a beta of 1.68.

AdvanSix (NYSE:ASIX - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.13 by $0.35. AdvanSix had a return on equity of 1.03% and a net margin of 0.57%. The business had revenue of $453.48 million during the quarter, compared to analysts' expectations of $426.80 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. As a group, equities research analysts predict that AdvanSix Inc. will post 1.67 earnings per share for the current year.

Insider Activity at AdvanSix

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the sale, the chief executive officer now owns 522,795 shares of the company's stock, valued at approximately $15,830,232.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,620 shares of company stock worth $170,603 over the last 90 days. Company insiders own 5.60% of the company's stock.

Institutional Trading of AdvanSix

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in AdvanSix by 89.8% during the first quarter. BNP Paribas Financial Markets now owns 13,203 shares of the company's stock worth $378,000 after acquiring an additional 6,245 shares during the last quarter. Empowered Funds LLC raised its position in AdvanSix by 8.1% in the first quarter. Empowered Funds LLC now owns 132,554 shares of the company's stock valued at $3,791,000 after purchasing an additional 9,975 shares during the period. Inspire Advisors LLC acquired a new position in shares of AdvanSix during the first quarter worth about $200,000. Russell Investments Group Ltd. boosted its position in shares of AdvanSix by 227.0% in the first quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company's stock worth $4,309,000 after buying an additional 104,587 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of AdvanSix by 48.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company's stock valued at $320,000 after buying an additional 3,630 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.