AdvanSix (NYSE:ASIX) Trading Down 0.9% – What’s Next?

Shares of AdvanSix Inc. (NYSE:ASIX) dropped 0.9% on Thursday . The stock traded as low as $31.55 and last traded at $31.62. Approximately 80,031 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 141,588 shares. The stock had previously closed at $31.91.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASIX. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler upped their target price on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Stock Performance

The business’s 50 day simple moving average is $30.26 and its two-hundred day simple moving average is $27.29. The firm has a market capitalization of $867.92 million, a PE ratio of 23.03 and a beta of 1.69. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28.

AdvanSix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, insider Christopher Gramm sold 2,435 shares of the 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 transaction, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald P. Newman purchased 5,030 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $29.64 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 15,369 shares of company stock valued at $474,058. 5.60% of the stock is owned by company insiders.

Institutional Trading of AdvanSix

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co grew its stake in shares of AdvanSix by 8.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock valued at $694,000 after acquiring an additional 1,904 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of AdvanSix in the first quarter worth $215,000. Comerica Bank raised its position in shares of AdvanSix by 48.9% during the 1st quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $554,000 after purchasing an additional 6,362 shares during the period. Boston Partners purchased a new position in shares of AdvanSix during the 1st quarter valued at $702,000. Finally, Wedge Capital Management L L P NC boosted its holdings in AdvanSix by 21.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 32,673 shares of the company’s stock worth $749,000 after buying an additional 5,774 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.