AdvanSix (NYSE:ASIX) Trading Down 2.1% – Should You Sell?

AdvanSix Inc. (NYSE:ASIX)’s stock price traded down 2.1% during trading on Wednesday . The company traded as low as $31.86 and last traded at $31.88. 8,112 shares traded hands during trading, a decline of 94% from the average session volume of 140,737 shares. The stock had previously closed at $32.58.

Wall Street Analysts Forecast Growth

ASIX has been the subject of a number of research reports. 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. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday.

AdvanSix Price Performance

The company’s 50-day simple moving average is $30.49 and its 200 day simple moving average is $27.49. The company has a market cap of $846.00 million, a PE ratio of 22.45 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34.

AdvanSix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.02%. AdvanSix’s payout ratio is 45.39%.

Insiders Place Their Bets

In other news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the transaction, the chief executive officer now owns 517,795 shares in the company, valued at approximately $15,725,434.15. This represents a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Gramm sold 2,435 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,369 shares of company stock worth $474,058 in the last quarter. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdvanSix

Several hedge funds have recently added to or reduced their stakes in ASIX. First Eagle Investment Management LLC lifted its holdings in shares of AdvanSix by 33.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after purchasing an additional 151,470 shares during the last quarter. Geode Capital Management LLC increased its position in AdvanSix by 1.5% during the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock worth $18,186,000 after buying an additional 8,903 shares during the period. American Century Companies Inc. lifted its stake in AdvanSix by 5.4% in the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after buying an additional 30,500 shares during the last quarter. FMR LLC boosted its holdings in shares of AdvanSix by 86.2% in the third quarter. FMR LLC now owns 565,982 shares of the company’s stock valued at $17,195,000 after acquiring an additional 261,964 shares during the period. Finally, Wellington Management Group LLP raised its position in AdvanSix by 48.6% in the 3rd 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 during the last quarter. 86.39% of the stock is currently 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.