AdvanSix (NYSE:ASIX) Shares Down 0.5% – Here’s Why

AdvanSix Inc. (NYSE:ASIX) shares dropped 0.5% during mid-day trading on Thursday . The stock traded as low as $31.21 and last traded at $31.25. Approximately 6,263 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 140,007 shares. The stock had previously closed at $31.41.

Wall Street Analyst Weigh In

ASIX has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Price Performance

The business’s 50-day simple moving average is $30.56 and its two-hundred day simple moving average is $27.82. The stock has a market cap of $827.03 million, a price-to-earnings ratio of 21.94 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62.

AdvanSix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is 45.39%.

Insider Buying and Selling

In related news, insider Christopher Gramm sold 1,951 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. The trade was a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donald P. Newman acquired 5,030 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the acquisition, the director now directly owns 5,030 shares of the company’s stock, valued at $149,089.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 15,369 shares of company stock worth $474,058 in the last 90 days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after purchasing an additional 261,964 shares during the last quarter. Wellington Management Group LLP increased its position in shares of 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 buying an additional 153,686 shares during the period. First Eagle Investment Management LLC raised its stake in AdvanSix by 33.0% during the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after buying an additional 151,470 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in AdvanSix by 45.2% in the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after buying an additional 80,915 shares during the period. Finally, Millennium Management LLC boosted its position in AdvanSix by 83.8% during the second quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock valued at $3,192,000 after acquiring an additional 63,489 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

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.