AdvanSix (NYSE:ASIX) Stock Price Down 1.2% – Here’s Why

AdvanSix Inc. (NYSE:ASIX) was down 1.2% during mid-day trading on Monday . The stock traded as low as $30.50 and last traded at $30.59. Approximately 4,409 shares traded hands during trading, a decline of 97% from the average daily volume of 139,574 shares. The stock had previously closed at $30.95.

Analysts Set New Price Targets

A number of research firms have commented on ASIX. StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th.

AdvanSix Trading Down 1.6 %

The company has a market cap of $814.20 million, a PE ratio of 21.70 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The company has a 50 day simple moving average of $30.56 and a two-hundred day simple moving average of $27.90.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is currently 45.39%.

Insider Activity

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

Institutional Trading of AdvanSix

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in AdvanSix by 48.6% in 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. First Eagle Investment Management LLC lifted its position in shares of AdvanSix by 33.0% during 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 last quarter. American Century Companies Inc. lifted its position in shares of 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 purchasing an additional 30,500 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake 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 purchasing an additional 80,915 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in AdvanSix in the 2nd quarter valued at approximately $34,000. Institutional investors own 86.39% of the company’s stock.

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.