AdvanSix (NYSE:ASIX) Shares Down 0.8% – Here’s Why

Shares of AdvanSix Inc. (NYSE:ASIX) traded down 0.8% on Tuesday . The company traded as low as $31.08 and last traded at $31.38. 7,506 shares were traded during trading, a decline of 95% from the average session volume of 140,161 shares. The stock had previously closed at $31.64.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Price Performance

The stock has a 50 day moving average price of $30.58 and a two-hundred day moving average price of $27.74. The firm has a market cap of $839.59 million, a PE ratio of 22.28 and a beta of 1.73. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.04%. AdvanSix’s dividend payout ratio is currently 45.39%.

Insider Activity at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the company’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 value of $151,400.00. Following the sale, the chief executive officer now owns 522,795 shares in the company, valued at $15,830,232.60. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the business’s 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 completion of the transaction, 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 a total of 15,369 shares of company stock worth $474,058 over the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASIX. Point72 DIFC Ltd acquired a new position in shares of AdvanSix during the 2nd quarter worth approximately $34,000. Acadian Asset Management LLC acquired a new position in shares of AdvanSix during the 2nd quarter worth approximately $36,000. Copeland Capital Management LLC acquired a new position in shares of AdvanSix during the 3rd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC acquired a new position in shares of AdvanSix during the 2nd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AdvanSix during the 2nd quarter worth approximately $51,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.