AdvanSix (NYSE:ASIX) Shares Down 0.6% After Insider Selling

AdvanSix Inc. (NYSE:ASIX) shares dropped 0.6% on Tuesday after an insider sold shares in the company. The stock traded as low as $31.75 and last traded at $32.16. Approximately 24,451 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 141,285 shares. The stock had previously closed at $32.34.

Specifically, insider Christopher Gramm sold 1,951 shares of the 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 completion of the sale, the insider now owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research firms recently commented on ASIX. Piper Sandler lifted their price objective 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 downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

AdvanSix Stock Performance

The stock has a fifty day simple moving average of $30.13 and a two-hundred day simple moving average of $27.20. 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 stock has a market capitalization of $845.23 million, a price-to-earnings ratio of 22.43 and a beta of 1.69.

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid 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 yield of 2.02%. AdvanSix’s dividend payout ratio is currently 45.39%.

Institutional Investors Weigh In On AdvanSix

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of AdvanSix by 319.2% during the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after buying an additional 32,706 shares during the period. Geode Capital Management LLC grew its holdings in AdvanSix by 1.5% in the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock worth $18,186,000 after purchasing an additional 8,903 shares during the period. Public Employees Retirement System of Ohio increased its stake in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after purchasing an additional 1,396 shares in the last quarter. Jane Street Group LLC increased its stake in AdvanSix by 162.8% in the third quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock valued at $1,565,000 after purchasing an additional 31,915 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position 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 purchasing an additional 153,686 shares in the last quarter. 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.