AdvanSix Inc. (NYSE:ASIX) Sees Significant Increase in Short Interest

AdvanSix Inc. (NYSE:ASIX) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 299,500 shares, a growth of 15.8% from the October 31st total of 258,700 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 129,100 shares, the short-interest ratio is presently 2.3 days.

Insider Activity at AdvanSix

In other news, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total transaction of $151,400.00. Following the completion of the sale, the chief executive officer now owns 522,795 shares in the company, valued at $15,830,232.60. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

Several hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC increased its position in shares of AdvanSix by 33.0% during 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 during the last quarter. Geode Capital Management LLC grew its stake in AdvanSix by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock valued at $18,186,000 after purchasing an additional 8,903 shares during the period. American Century Companies Inc. increased its position in shares of AdvanSix by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after purchasing an additional 30,500 shares during the last quarter. FMR LLC raised its stake in shares of AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after purchasing an additional 261,964 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of AdvanSix by 48.6% in the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after buying an additional 153,686 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Down 0.9 %

Shares of ASIX stock traded down $0.29 on Tuesday, hitting $32.58. The stock had a trading volume of 106,406 shares, compared to its average volume of 123,595. 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 business has a 50 day moving average of $30.41 and a 200 day moving average of $27.43. AdvanSix has a 12-month low of $20.86 and a 12-month high of $33.00. The stock has a market cap of $870.86 million, a price-to-earnings ratio of 23.11 and a beta of 1.73.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 1.96%. AdvanSix’s dividend payout ratio (DPR) is 45.39%.

Wall Street Analyst Weigh In

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

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.