AdvanSix (NYSE:ASIX) Trading Down 1.4% – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX)’s share price dropped 1.4% during mid-day trading on Friday . The stock traded as low as $31.07 and last traded at $31.22. Approximately 11,145 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 140,433 shares. The stock had previously closed at $31.67.

Analyst Ratings Changes

Several equities analysts recently commented on ASIX shares. Piper Sandler upped 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 upgraded AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday.

AdvanSix Stock Down 1.4 %

The company’s 50 day moving average is $30.49 and its 200 day moving average is $27.49. The company has a market cap of $834.78 million, a PE ratio of 22.14 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 dividend yield of 2.05%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insider Activity at AdvanSix

In related 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 completion of the sale, the chief executive officer now directly owns 517,795 shares in the company, valued at $15,725,434.15. This represents a 0.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the transaction, the insider now owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,369 shares of company stock worth $474,058. Company insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

Institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of AdvanSix in the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC acquired a new position in AdvanSix during the 2nd quarter valued at approximately $36,000. Copeland Capital Management LLC purchased a new position in shares of AdvanSix in the third quarter worth $41,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of AdvanSix during the second quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AdvanSix during the second quarter valued at $51,000. 86.39% of the stock is currently owned by institutional investors.

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.