AdvanSix Inc. (NYSE:ASIX) Sees Large Growth in Short Interest

AdvanSix Inc. (NYSE:ASIX) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 299,500 shares, a growth of 15.8% from the October 31st total of 258,700 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 129,100 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Ratings Changes

ASIX has been the subject of several recent research reports. Piper Sandler boosted their price target on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. StockNews.com cut AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

AdvanSix Price Performance

ASIX stock traded down $0.29 during mid-day trading on Tuesday, hitting $32.58. 106,406 shares of the stock were exchanged, compared to its average volume of 123,595. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The business has a fifty day moving average price of $30.34 and a 200 day moving average price of $27.37. AdvanSix has a 12 month low of $20.86 and a 12 month high of $33.00. The stock has a market capitalization of $870.86 million, a price-to-earnings ratio of 23.11 and a beta of 1.73.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, insider Christopher Gramm sold 2,435 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $29.64 per share, for a total transaction of $149,089.20. Following the purchase, the director now directly owns 5,030 shares in the company, valued at approximately $149,089.20. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 15,369 shares of company stock valued at $474,058. 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 modified their holdings of the stock. Barclays PLC increased its holdings in AdvanSix by 319.2% during the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after purchasing an additional 32,706 shares during the period. Geode Capital Management LLC grew 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 shares of AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after acquiring an additional 1,396 shares during the period. Jane Street Group LLC grew its holdings in shares of AdvanSix by 162.8% during the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after acquiring an additional 31,915 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of AdvanSix by 48.6% during the 3rd 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 period. Institutional investors own 86.39% of the company’s stock.

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.