AdvanSix (NYSE:ASIX) Stock Price Up 6.8% – Still a Buy?

AdvanSix Inc. (NYSE:ASIX)’s stock price shot up 6.8% during mid-day trading on Monday . The company traded as high as $28.48 and last traded at $28.30. 31,973 shares were traded during mid-day trading, a decline of 72% from the average session volume of 114,684 shares. The stock had previously closed at $26.50.

Wall Street Analysts Forecast Growth

ASIX has been the topic of several recent analyst reports. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Piper Sandler lifted their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Trading Up 3.6 %

The business has a 50-day simple moving average of $29.93 and a two-hundred day simple moving average of $28.66. 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 $802.73 million, a price-to-earnings ratio of 21.30 and a beta of 1.76.

AdvanSix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid 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 dividend yield of 2.13%. AdvanSix’s dividend payout ratio is 45.39%.

Insider Activity at AdvanSix

In other news, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $149,089.20. Following the purchase, the director now owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $28.15, for a total value of $140,750.00. Following the transaction, the chief executive officer now directly owns 507,795 shares in the company, valued at approximately $14,294,429.25. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,749 shares of company stock valued at $444,205. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its holdings in AdvanSix by 33.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after purchasing an additional 151,470 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 8,903 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of AdvanSix by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock worth $13,611,000 after buying an additional 30,500 shares during the period. FMR LLC grew its stake in AdvanSix by 86.2% in the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock valued at $17,195,000 after buying an additional 261,964 shares during the last quarter. Finally, Wellington Management Group LLP lifted 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 acquiring an additional 153,686 shares during the last quarter. 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.