AdvanSix (NYSE:ASIX) Trading 2.3% Higher – Time to Buy?

Shares of AdvanSix Inc. (NYSE:ASIX) were up 2.3% during trading on Monday . The company traded as high as $32.50 and last traded at $32.42. Approximately 23,077 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 141,233 shares. The stock had previously closed at $31.68.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ASIX. StockNews.com downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on 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 stock has a market capitalization of $845.23 million, a PE ratio of 22.56 and a beta of 1.69. 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 $30.06 and a 200 day moving average price of $27.17.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is currently 45.39%.

Insider Activity at AdvanSix

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at $15,725,434.15. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald P. Newman purchased 5,030 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $149,089.20. Following the completion of the acquisition, the director now owns 5,030 shares in the company, valued at $149,089.20. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 15,369 shares of company stock worth $474,058. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdvanSix

Institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in AdvanSix by 86.2% in the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after acquiring an additional 261,964 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after purchasing an additional 153,686 shares in the last quarter. First Eagle Investment Management LLC increased its position in AdvanSix by 33.0% in the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after purchasing an additional 151,470 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in AdvanSix by 45.2% during the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after purchasing an additional 80,915 shares in the last quarter. Finally, Millennium Management LLC raised its stake in AdvanSix by 83.8% during the second quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock valued at $3,192,000 after purchasing an additional 63,489 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.