AdvanSix (NYSE:ASIX) Shares Up 1.7% – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX)’s stock price shot up 1.7% during mid-day trading on Friday . The stock traded as high as $32.34 and last traded at $32.16. 23,860 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 141,039 shares. The stock had previously closed at $31.62.

Analyst Ratings Changes

Several brokerages have issued reports on ASIX. Piper Sandler increased their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

AdvanSix Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $27.23. The firm has a market cap of $866.59 million, a P/E ratio of 22.81 and a beta of 1.69.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.97%. AdvanSix’s dividend payout ratio is presently 45.39%.

Insider Activity

In other AdvanSix news, Director Donald P. Newman purchased 5,030 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now owns 5,030 shares of the company’s stock, valued at $149,089.20. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,369 shares of company stock worth $474,058 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of AdvanSix

A number of institutional investors and hedge funds have recently modified their holdings of ASIX. Point72 DIFC Ltd purchased a new stake in shares of AdvanSix during the second quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new stake in AdvanSix in the second quarter worth $36,000. Copeland Capital Management LLC purchased a new stake in AdvanSix in the third quarter worth $41,000. Allspring Global Investments Holdings LLC purchased a new stake in AdvanSix in the second quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in AdvanSix in the second quarter worth $51,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.