AdvanSix (NYSE:ASIX) Stock Price Down 1% – What’s Next?

AdvanSix Inc. (NYSE:ASIX)’s stock price traded down 1% during trading on Wednesday . The company traded as low as $31.15 and last traded at $31.23. 8,683 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 139,964 shares. The stock had previously closed at $31.54.

Analyst Ratings Changes

A number of brokerages recently commented on ASIX. Piper Sandler increased their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Performance

The firm’s 50-day simple moving average is $30.58 and its 200-day simple moving average is $27.77. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $827.29 million, a PE ratio of 21.76 and a beta of 1.73.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insider Transactions at AdvanSix

In other AdvanSix news, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the transaction, the insider now owns 43,463 shares in the company, valued at $1,390,816. The trade was a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,369 shares of company stock valued at $474,058. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AdvanSix

A number of large investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its position in AdvanSix by 3.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock worth $468,000 after purchasing an additional 672 shares during the last quarter. Meritage Portfolio Management boosted its position in AdvanSix by 9.1% in the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock worth $317,000 after purchasing an additional 871 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix during the 3rd quarter worth approximately $41,000. Public Employees Retirement System of Ohio increased its holdings in shares of AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of AdvanSix in the 2nd quarter valued at $34,000. 86.39% of the stock is 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.