AdvanSix (NYSE:ASIX) Trading Down 0.3% Following Insider Selling

Shares of AdvanSix Inc. (NYSE:ASIX) dropped 0.3% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $31.66 and last traded at $31.81. Approximately 15,579 shares traded hands during trading, a decline of 89% from the average daily volume of 141,298 shares. The stock had previously closed at $31.91.

Specifically, insider Christopher Gramm sold 1,951 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.00, for a total transaction of $62,432.00. Following the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

AdvanSix Stock Performance

The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $27.17. The firm has a market cap of $850.31 million, a PE ratio of 22.56 and a beta of 1.69.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.01%. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Institutional Investors Weigh In On AdvanSix

Large investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of AdvanSix in the second quarter valued at approximately $34,000. Acadian Asset Management LLC acquired a new stake in shares of AdvanSix in the 2nd quarter worth $36,000. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix in the 3rd quarter worth $41,000. Allspring Global Investments Holdings LLC purchased a new position in shares of AdvanSix during the 2nd quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AdvanSix during the 2nd quarter valued at about $51,000. 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.