AdvanSix (NYSE:ASIX) Trading Up 1.5% – What’s Next?

AdvanSix Inc. (NYSE:ASIX) rose 1.5% on Thursday . The company traded as high as $30.35 and last traded at $30.35. Approximately 10,742 shares traded hands during trading, a decline of 92% from the average daily volume of 141,037 shares. The stock had previously closed at $29.91.

Analysts Set New Price Targets

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

AdvanSix Price Performance

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 company has a market capitalization of $827.03 million, a PE ratio of 21.66 and a beta of 1.69. The stock’s 50-day moving average is $29.73 and its two-hundred day moving average is $26.94.

AdvanSix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s payout ratio is presently 45.39%.

Insider Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 2,435 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the completion of the sale, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at $15,725,434.15. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,418 shares of company stock valued at $411,626. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ASIX. Russell Investments Group Ltd. raised its holdings in AdvanSix by 227.0% in the first quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock valued at $4,309,000 after acquiring an additional 104,587 shares in the last quarter. Boston Partners acquired a new stake in AdvanSix in the first quarter valued at approximately $702,000. First Eagle Investment Management LLC raised 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 valued at $14,006,000 after acquiring an additional 151,470 shares in the last quarter. American Century Companies Inc. raised 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 valued at $13,611,000 after acquiring an additional 30,500 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in AdvanSix by 45.2% in the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after acquiring an additional 80,915 shares in the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.