AdvanSix (NYSE:ASIX) Trading Down 1.5% – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX) shares fell 1.5% during trading on Friday . The stock traded as low as $30.47 and last traded at $30.68. 14,955 shares changed hands during trading, a decline of 89% from the average session volume of 139,813 shares. The stock had previously closed at $31.16.

Analyst Ratings Changes

Several research analysts have recently issued reports on ASIX shares. Piper Sandler raised their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Price Performance

The business has a 50-day moving average of $30.58 and a two-hundred day moving average of $27.77. The firm has a market cap of $824.62 million, a P/E ratio of 21.76 and a beta of 1.73. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio is presently 45.39%.

Insider Buying and Selling

In related news, 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 acquired at an average price of $29.64 per share, for a total transaction of $149,089.20. Following the completion of the acquisition, the director now owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 over the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On AdvanSix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of AdvanSix by 86.2% during the third quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after acquiring an additional 261,964 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 153,686 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in AdvanSix by 33.0% in the 2nd 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 during the period. Deprince Race & Zollo Inc. grew its holdings in AdvanSix by 45.2% during the 2nd 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 in the last quarter. 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 valued at $3,192,000 after buying an additional 63,489 shares during the period. 86.39% of the stock is currently owned by 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.