AdvanSix (NYSE:ASIX) Trading 0.2% Higher – Here’s What Happened

Shares of AdvanSix Inc. (NYSE:ASIX) were up 0.2% during trading on Wednesday . The stock traded as high as $30.63 and last traded at $30.15. Approximately 20,887 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 139,300 shares. The stock had previously closed at $30.10.

Analysts Set New Price Targets

ASIX has been the topic of a number of recent research reports. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price target on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Stock Down 1.2 %

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 company has a market cap of $794.98 million, a price-to-earnings ratio of 21.09 and a beta of 1.73. The firm’s 50 day simple moving average is $30.53 and its 200-day simple moving average is $27.99.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s payout ratio is currently 45.39%.

Insider Activity

In related news, Director Donald P. Newman acquired 5,030 shares of AdvanSix stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $29.64 per share, with a total value of $149,089.20. Following the purchase, the director now directly owns 5,030 shares in the company, valued at approximately $149,089.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. Following the completion of the transaction, the insider now owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 4.30 % 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 valued at $474,058 in the last ninety days. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ASIX. SummerHaven Investment Management LLC raised its position in AdvanSix by 3.4% in the second quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock worth $468,000 after acquiring an additional 672 shares in the last quarter. Meritage Portfolio Management grew its stake in shares of AdvanSix by 9.1% during the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock worth $317,000 after purchasing an additional 871 shares during the period. Copeland Capital Management LLC purchased a new position in shares of AdvanSix in the 3rd quarter valued at about $41,000. Public Employees Retirement System of Ohio lifted its stake in shares of AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after purchasing an additional 1,396 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of AdvanSix in the second quarter valued at about $34,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.