AdvanSix (NYSE:ASIX) Shares Down 1.3% – Here’s Why

AdvanSix Inc. (NYSE:ASIX) fell 1.3% during mid-day trading on Tuesday . The stock traded as low as $29.60 and last traded at $30.05. 16,063 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 139,395 shares. The stock had previously closed at $30.46.

Wall Street Analyst Weigh In

Several brokerages have issued reports 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 raised their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Trading Down 1.3 %

The firm has a market capitalization of $803.53 million, a PE ratio of 21.27 and a beta of 1.73. The stock’s 50-day moving average price is $30.54 and its 200 day moving average price is $27.95. 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. Stockholders 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 dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insider Transactions at AdvanSix

In other AdvanSix news, Director Donald P. Newman acquired 5,030 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the acquisition, the director now directly owns 5,030 shares in the company, valued at $149,089.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction that occurred on Monday, November 25th. The shares were 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 approximately $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. Over the last three months, insiders have sold 15,369 shares of company stock valued at $474,058. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings in AdvanSix by 33.0% in 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 during the last quarter. 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 last quarter. American Century Companies Inc. grew its holdings in AdvanSix by 5.4% in the second 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. 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 last quarter. Finally, Wellington Management Group LLP grew its holdings in AdvanSix by 48.6% in the third 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 during 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.