AdvanSix (NYSE:ASIX) Price Target Raised to $39.00

AdvanSix (NYSE:ASIX) had its price objective raised by Piper Sandler from $35.00 to $39.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

AdvanSix Stock Up 0.1 %

ASIX opened at $31.05 on Friday. AdvanSix has a twelve month low of $20.86 and a twelve month high of $32.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The business has a 50 day moving average price of $29.41 and a 200 day moving average price of $26.72. The firm has a market cap of $829.97 million, a P/E ratio of 22.02 and a beta of 1.69.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a $0.16 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 annualized dividend and a dividend yield of 2.06%. AdvanSix’s dividend payout ratio is 45.39%.

Insiders Place Their Bets

In other news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the completion of the transaction, the chief executive officer now owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AdvanSix news, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the sale, the insider now owns 43,463 shares in the company, valued at $1,390,816. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the completion of the sale, the chief executive officer now directly owns 517,795 shares in the company, valued at approximately $15,725,434.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,418 shares of company stock worth $411,626 in the last ninety days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds have recently modified their holdings of ASIX. SummerHaven Investment Management LLC boosted its stake in shares of AdvanSix by 3.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock valued at $468,000 after purchasing an additional 672 shares in the last quarter. Meritage Portfolio Management boosted its position in AdvanSix by 9.1% in the third quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock valued at $317,000 after buying an additional 871 shares in the last quarter. Copeland Capital Management LLC bought a new stake in AdvanSix during the third quarter worth about $41,000. Point72 DIFC Ltd acquired a new stake in shares of AdvanSix during the second quarter worth approximately $34,000. Finally, Acadian Asset Management LLC bought a new position in shares of AdvanSix in the second quarter valued at approximately $36,000. 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.