AdvanSix (NYSE:ASIX) Trading Down 0.8% – What’s Next?

Shares of AdvanSix Inc. (NYSE:ASIX) dropped 0.8% during mid-day trading on Tuesday . The stock traded as low as $31.08 and last traded at $31.38. Approximately 7,506 shares were traded during trading, a decline of 95% from the average daily volume of 140,161 shares. The stock had previously closed at $31.64.

Wall Street Analysts Forecast Growth

ASIX has been the subject of several recent analyst reports. Piper Sandler raised their target price on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note 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 Stock Performance

The firm has a 50-day moving average price of $30.54 and a 200 day moving average price of $27.66. The firm has a market capitalization of $846.00 million, a PE ratio of 22.26 and a beta of 1.73. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 annualized dividend and a dividend yield of 2.02%. AdvanSix’s dividend payout ratio is currently 45.39%.

Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the transaction, the chief executive officer now directly owns 522,795 shares in the company, valued at approximately $15,830,232.60. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,369 shares of company stock worth $474,058 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in 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 last quarter. First Eagle Investment Management LLC increased its position in shares of 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 purchasing an additional 151,470 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of AdvanSix by 45.2% during the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock worth $5,955,000 after purchasing an additional 80,915 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of AdvanSix during the second quarter worth about $34,000. Finally, Millennium Management LLC increased its position in shares of AdvanSix by 83.8% during the second quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock worth $3,192,000 after purchasing an additional 63,489 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.