AdvanSix (NYSE:ASIX) Trading Up 0.2% – Still a Buy?

Shares of AdvanSix Inc. (NYSE:ASIX) rose 0.2% on Wednesday . The stock traded as high as $30.63 and last traded at $30.15. Approximately 20,887 shares changed hands during trading, a decline of 85% from the average daily volume of 139,300 shares. The stock had previously closed at $30.10.

Analysts Set New Price Targets

A number of research firms have issued reports on ASIX. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised their target price 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 business’s fifty day moving average price is $30.44 and its 200 day moving average price is $28.00. The company has a market cap of $755.69 million, a price-to-earnings ratio of 20.05 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s payout ratio is presently 45.39%.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, Director Donald P. Newman purchased 5,030 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the purchase, the director now owns 5,030 shares in the company, valued at $149,089.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Gramm sold 1,951 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the transaction, the insider now 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. In the last 90 days, insiders sold 15,369 shares of company stock valued at $474,058. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of AdvanSix

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in AdvanSix by 86.2% in the third quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after purchasing an additional 261,964 shares during the period. 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. First Eagle Investment Management LLC grew its stake in shares of AdvanSix by 33.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after buying an additional 151,470 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of AdvanSix by 45.2% in 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 during the period. Finally, Millennium Management LLC increased its position in AdvanSix by 83.8% in the 2nd 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 in the last quarter. 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.