AdvanSix (NYSE:ASIX) Shares Down 0.6% – What’s Next?

AdvanSix Inc. (NYSE:ASIX) shares traded down 0.6% during trading on Monday . The stock traded as low as $31.92 and last traded at $32.29. 22,482 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 140,881 shares. The stock had previously closed at $32.47.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their target price 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 Price Performance

The firm has a market cap of $872.73 million, a P/E ratio of 22.90 and a beta of 1.69. The business has a 50-day simple moving average of $30.26 and a 200 day simple moving average of $27.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders 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 yield of 1.96%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s payout ratio is currently 45.39%.

Insider Activity at AdvanSix

In related news, insider Christopher Gramm sold 2,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the transaction, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the sale, the chief executive officer now directly owns 522,795 shares in the company, valued at approximately $15,830,232.60. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,369 shares of company stock worth $474,058 over the last 90 days. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds have recently added to or reduced their stakes in the company. Boston Partners bought a new position in AdvanSix during the 1st quarter valued at about $702,000. First Eagle Investment Management LLC raised its stake in AdvanSix by 33.0% during 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 last quarter. American Century Companies Inc. lifted its holdings 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 valued at $13,611,000 after buying an additional 30,500 shares during the period. Deprince Race & Zollo Inc. boosted 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 worth $5,955,000 after buying an additional 80,915 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of AdvanSix during the 2nd quarter valued at about $34,000. 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.