AdvanSix (NYSE:ASIX) Hits New 1-Year High – Should You Buy?

Shares of AdvanSix Inc. (NYSE:ASIX) reached a new 52-week high during trading on Monday . The company traded as high as $32.19 and last traded at $32.04, with a volume of 7789 shares traded. The stock had previously closed at $31.68.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

AdvanSix Price Performance

The company has a 50-day moving average of $29.90 and a 200 day moving average of $27.07. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $860.97 million, a PE ratio of 22.99 and a beta of 1.69.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%.

Insider Transactions at AdvanSix

In related news, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $29.64 per share, with a total value of $149,089.20. Following the purchase, the director now directly owns 5,030 shares of the company’s stock, valued at $149,089.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Gramm sold 2,435 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,418 shares of company stock worth $411,626 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ASIX. State Board of Administration of Florida Retirement System lifted its stake in shares of AdvanSix by 48.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company’s stock valued at $320,000 after purchasing an additional 3,630 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of AdvanSix by 8.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock worth $694,000 after purchasing an additional 1,904 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in AdvanSix during the first quarter worth about $215,000. Comerica Bank raised its stake in shares of AdvanSix by 48.9% in the 1st quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $554,000 after acquiring an additional 6,362 shares during the period. Finally, EMC Capital Management acquired a new position in AdvanSix during the first quarter worth $271,000. 86.39% of the stock is currently 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.