AdvanSix (NYSE:ASIX) Stock Price Down 1.5% – Here’s What Happened

Shares of AdvanSix Inc. (NYSE:ASIX) fell 1.5% during mid-day trading on Friday . The stock traded as low as $30.47 and last traded at $30.68. 14,955 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 139,813 shares. The stock had previously closed at $31.16.

Wall Street Analyst Weigh In

Several research firms recently commented on ASIX. Piper Sandler increased their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th.

AdvanSix Stock Down 1.0 %

The business has a fifty day moving average of $30.58 and a two-hundred day moving average of $27.77. The company has a market cap of $824.62 million, a price-to-earnings ratio of 21.76 and a beta of 1.73. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend 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 Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total transaction of $151,400.00. Following the completion of the transaction, the chief executive officer now owns 522,795 shares in the company, valued at $15,830,232.60. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,369 shares of company stock valued at $474,058 over the last quarter. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdvanSix

Several hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its stake in shares of AdvanSix by 3.4% during the second 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 raised its position in AdvanSix by 9.1% during the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock worth $317,000 after buying an additional 871 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix in the 3rd quarter worth $41,000. Public Employees Retirement System of Ohio boosted its holdings in shares of AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of AdvanSix during the second quarter worth about $34,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

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.