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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler lifted 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. StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Down 1.3 %

The company has a market capitalization of $803.53 million, a price-to-earnings ratio of 21.27 and a beta of 1.73. The business’s 50-day moving average is $30.54 and its 200-day moving average is $27.95. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.13%. AdvanSix’s dividend payout ratio is presently 45.39%.

Insider Activity at AdvanSix

In other news, Director Donald P. Newman acquired 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The stock was bought at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the acquisition, the director now owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 43,463 shares of the company’s stock, valued at $1,390,816. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock worth $474,058 over the last three months. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in AdvanSix by 319.2% in the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after buying an additional 32,706 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AdvanSix by 1.5% during 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 in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of AdvanSix by 29.9% during the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after purchasing an additional 1,396 shares in the last quarter. Jane Street Group LLC increased its stake in shares of AdvanSix by 162.8% during the third quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after purchasing an additional 31,915 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of AdvanSix by 48.6% during 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 in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

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.