AdvanSix (NYSE:ASIX) Stock Price Up 0.2% – Should You Buy?

AdvanSix Inc. (NYSE:ASIX)’s stock price was up 0.2% during trading on Wednesday . The stock traded as high as $30.63 and last traded at $30.15. Approximately 20,887 shares changed hands during trading, a decline of 85% from the average daily volume of 139,300 shares. The stock had previously closed at $30.10.

Wall Street Analysts Forecast Growth

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

AdvanSix Stock Down 1.6 %

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 stock has a market capitalization of $755.69 million, a PE ratio of 20.05 and a beta of 1.73. The stock’s fifty day simple moving average is $30.44 and its 200-day simple moving average is $28.00.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insiders Place Their Bets

In related news, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. The trade was a 4.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donald P. Newman purchased 5,030 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $29.64 per share, for a total transaction of $149,089.20. Following the transaction, the director now directly owns 5,030 shares in the company, valued at approximately $149,089.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 15,369 shares of company stock valued at $474,058. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of AdvanSix by 319.2% during the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after buying an additional 32,706 shares during the period. Geode Capital Management LLC increased its holdings in AdvanSix by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock worth $18,186,000 after acquiring an additional 8,903 shares during the period. Public Employees Retirement System of Ohio lifted its stake in AdvanSix by 29.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after purchasing an additional 1,396 shares in the last quarter. Jane Street Group LLC boosted its holdings in AdvanSix by 162.8% in the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock valued at $1,565,000 after purchasing an additional 31,915 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of AdvanSix by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after purchasing an additional 153,686 shares in the last quarter. Hedge funds and other institutional investors 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.