Insider Selling: AdvanSix Inc. (NYSE:ASIX) CEO Sells 5,000 Shares of Stock

AdvanSix Inc. (NYSE:ASIX) CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.15, for a total value of $140,750.00. Following the transaction, the chief executive officer now directly owns 507,795 shares in the company, valued at approximately $14,294,429.25. This represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AdvanSix Stock Down 0.2 %

Shares of NYSE ASIX opened at $27.60 on Friday. The stock has a market capitalization of $737.78 million, a PE ratio of 19.57 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. The firm has a fifty day moving average of $30.07 and a 200-day moving average of $28.34. AdvanSix Inc. has a 52-week low of $20.86 and a 52-week high of $33.00.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders 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 2.32%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Hedge Funds Weigh In On AdvanSix

A number of large investors have recently modified their holdings of ASIX. Wellington Management Group LLP increased its position in AdvanSix by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after purchasing an additional 153,686 shares in the last quarter. American Century Companies Inc. grew its stake in AdvanSix by 5.4% during the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock worth $13,611,000 after buying an additional 30,500 shares during the period. First Eagle Investment Management LLC increased its position in shares of AdvanSix by 33.0% in the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after acquiring an additional 151,470 shares in the last quarter. Barclays PLC raised its stake in shares of AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after acquiring an additional 32,706 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of AdvanSix during the 2nd quarter valued at $34,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.