AdvanSix (NYSE:ASIX) Stock Price Down 1.2% – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX) was down 1.2% during mid-day trading on Monday . The stock traded as low as $30.50 and last traded at $30.59. Approximately 4,409 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 139,574 shares. The stock had previously closed at $30.95.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASIX. Piper Sandler lifted their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Trading Down 1.1 %

The stock has a market capitalization of $804.87 million, a PE ratio of 21.35 and a beta of 1.73. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $30.53 and a 200-day moving average price of $27.99.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend 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 (DPR) is presently 45.39%.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, Director Donald P. Newman acquired 5,030 shares of the company’s stock in a transaction on Monday, November 18th. The shares were acquired 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 trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,369 shares of company stock worth $474,058 over the last three months. 5.60% of the stock is currently owned by insiders.

Institutional Trading of AdvanSix

Hedge funds and other institutional investors have recently modified their holdings of the business. SummerHaven Investment Management LLC raised its holdings in AdvanSix by 3.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock valued at $468,000 after acquiring an additional 672 shares during the period. Bank of New York Mellon Corp grew its position in shares of AdvanSix by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company’s stock valued at $8,237,000 after purchasing an additional 7,925 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of AdvanSix during the 2nd quarter valued at $51,000. Acadian Asset Management LLC purchased a new stake in AdvanSix during the 2nd quarter worth about $36,000. Finally, Texas Permanent School Fund Corp boosted its stake in AdvanSix by 19.4% in the 2nd quarter. Texas Permanent School Fund Corp now owns 27,990 shares of the company’s stock worth $642,000 after purchasing an additional 4,556 shares during the period. 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.