AdvanSix (NYSE:ASIX) Stock Price Up 3.4% – Here’s What Happened

Shares of AdvanSix Inc. (NYSE:ASIX) shot up 3.4% during trading on Monday . The stock traded as high as $32.73 and last traded at $32.55. 22,791 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 140,259 shares. The stock had previously closed at $31.48.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ASIX shares. Piper Sandler boosted their price target on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Stock Performance

The company has a market capitalization of $861.24 million, a price-to-earnings ratio of 23.09 and a beta of 1.73. 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’s 50-day moving average price is $30.51 and its 200-day moving average price is $27.60.

AdvanSix Dividend Announcement

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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 1.99%. AdvanSix’s payout ratio is 45.39%.

Insider Activity

In other news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated 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 sale, the chief executive officer now directly owns 522,795 shares in the company, valued at $15,830,232.60. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald P. Newman acquired 5,030 shares of AdvanSix stock in a transaction that occurred on 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 purchase, the director now directly owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 15,369 shares of company stock worth $474,058 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently made changes to their positions in ASIX. Barclays PLC lifted its position in AdvanSix by 319.2% during the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after buying an additional 32,706 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 grew its holdings in 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 purchasing an additional 1,396 shares during the period. Jane Street Group LLC grew its holdings in AdvanSix by 162.8% in the third 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 increased its position in AdvanSix by 48.6% during the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after purchasing an additional 153,686 shares during 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.