AdvanSix (NYSE:ASIX) Shares Down 0.6% – What’s Next?

Shares of AdvanSix Inc. (NYSE:ASIX) traded down 0.6% on Tuesday . The company traded as low as $31.75 and last traded at $32.16. 24,451 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 141,285 shares. The stock had previously closed at $32.34.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ASIX shares. Piper Sandler lifted their target price 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 downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

AdvanSix Stock Performance

The company’s 50 day simple moving average is $29.99 and its 200 day simple moving average is $27.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market cap of $851.89 million, a PE ratio of 22.81 and a beta of 1.69.

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s dividend payout ratio is presently 45.39%.

Insider Buying and Selling

In other news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the transaction, the chief executive officer now owns 517,795 shares of the company’s stock, valued at $15,725,434.15. This represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,418 shares of company stock worth $411,626. 5.60% of the stock is owned by company insiders.

Institutional Trading of AdvanSix

A number of institutional investors have recently modified their holdings of ASIX. Point72 DIFC Ltd bought a new position in AdvanSix in the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in AdvanSix during the 2nd quarter worth approximately $36,000. Copeland Capital Management LLC purchased a new stake in AdvanSix in the 3rd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC bought a new position in AdvanSix in the 2nd quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AdvanSix during the 2nd quarter valued at $51,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

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.