Piper Sandler Forecasts Strong Price Appreciation for AdvanSix (NYSE:ASIX) Stock

AdvanSix (NYSE:ASIX) had its target price raised by Piper Sandler from $35.00 to $39.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

AdvanSix Price Performance

ASIX traded down $0.09 during midday trading on Friday, hitting $31.02. 113,366 shares of the company traded hands, compared to its average volume of 142,948. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $829.16 million, a price-to-earnings ratio of 22.00 and a beta of 1.69. AdvanSix has a 52-week low of $20.86 and a 52-week high of $32.04. The business has a 50 day simple moving average of $29.38 and a two-hundred day simple moving average of $26.69.

AdvanSix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s payout ratio is 45.39%.

Insider Activity

In other news, insider Christopher Gramm sold 2,435 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,390,816. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total value of $151,400.00. Following the transaction, the chief executive officer now directly owns 522,795 shares of the company’s stock, valued at $15,830,232.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the transaction, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,418 shares of company stock valued at $411,626. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdvanSix

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of AdvanSix by 89.8% during the 1st quarter. BNP Paribas Financial Markets now owns 13,203 shares of the company’s stock worth $378,000 after purchasing an additional 6,245 shares in the last quarter. Empowered Funds LLC boosted its position in shares of AdvanSix by 8.1% during the 1st quarter. Empowered Funds LLC now owns 132,554 shares of the company’s stock worth $3,791,000 after purchasing an additional 9,975 shares in the last quarter. Inspire Advisors LLC purchased a new stake in shares of AdvanSix during the 1st quarter worth $200,000. Russell Investments Group Ltd. boosted its position in shares of AdvanSix by 227.0% in the 1st quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock worth $4,309,000 after buying an additional 104,587 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in AdvanSix by 48.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company’s stock valued at $320,000 after acquiring an additional 3,630 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.