AdvanSix (NYSE:ASIX) Shares Down 0.6% – Here’s Why

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ASIX. StockNews.com cut AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler lifted their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Stock 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 firm has a market cap of $870.86 million, a PE ratio of 23.11 and a beta of 1.73. The stock’s 50 day moving average price is $30.41 and its 200 day moving average price is $27.43.

AdvanSix Dividend Announcement

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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.96%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insiders Place Their Bets

In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction on 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 approximately $15,725,434.15. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. The trade was a 4.30 % decrease in their ownership of the stock. 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 quarter. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of AdvanSix

Institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC raised its holdings in shares of AdvanSix by 3.4% during the second quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock worth $468,000 after purchasing an additional 672 shares during the period. Meritage Portfolio Management raised its stake in AdvanSix by 9.1% during the third quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock worth $317,000 after acquiring an additional 871 shares during the period. Copeland Capital Management LLC bought a new position in AdvanSix in the third quarter worth about $41,000. Public Employees Retirement System of Ohio lifted its holdings in shares of AdvanSix by 29.9% in the 3rd 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 during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in AdvanSix during the 2nd quarter valued at approximately $34,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.