AdvanSix (NYSE:ASIX) Hits New 1-Year Low Following Insider Selling

AdvanSix Inc. (NYSE:ASIX)’s share price reached a new 52-week low during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $22.34 and last traded at $23.08, with a volume of 86857 shares trading hands. The stock had previously closed at $25.75.

Specifically, CEO Erin N. Kane sold 1,385 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.96, for a total value of $38,724.60. Following the transaction, the chief executive officer now owns 556,370 shares in the company, valued at approximately $15,556,105.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AdvanSix news, SVP Achilles B. Kintiroglou sold 3,661 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $25.23, for a total value of $92,367.03. Following the sale, the senior vice president now directly owns 35,335 shares in the company, valued at $891,502.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Erin N. Kane sold 1,385 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.96, for a total value of $38,724.60. Following the transaction, the chief executive officer now directly owns 556,370 shares in the company, valued at approximately $15,556,105.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,048 shares of company stock valued at $578,848. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of AdvanSix in a research note on Tuesday, April 9th.

AdvanSix Stock Performance

The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $591.70 million, a PE ratio of 12.15 and a beta of 1.74. The company has a 50-day moving average price of $27.06 and a two-hundred day moving average price of $27.14.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, February 16th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. AdvanSix had a return on equity of 6.98% and a net margin of 3.56%. The business had revenue of $382.21 million during the quarter, compared to the consensus estimate of $335.80 million. Analysts predict that AdvanSix Inc. will post 1.04 EPS for the current fiscal year.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, March 1st. AdvanSix’s dividend payout ratio (DPR) is presently 33.68%.

Institutional Trading of AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new stake in shares of AdvanSix in the fourth quarter worth $27,000. Quadrature Capital Ltd bought a new position in AdvanSix in the 3rd quarter worth about $204,000. Aigen Investment Management LP purchased a new stake in shares of AdvanSix in the 4th quarter valued at about $208,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of AdvanSix by 32.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,062 shares of the company’s stock valued at $219,000 after acquiring an additional 1,732 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of AdvanSix during the 4th quarter valued at about $234,000. 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.