AdvanSix (NYSE:ASIX) Trading 0.6% Higher After Insider Buying Activity

AdvanSix Inc. (NYSE:ASIX)’s stock price was up 0.6% on Wednesday after an insider bought additional shares in the company. The company traded as high as $29.38 and last traded at $29.26. Approximately 14,800 shares traded hands during trading, a decline of 90% from the average daily volume of 141,014 shares. The stock had previously closed at $29.09.

Specifically, Director Donald P. Newman acquired 5,030 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired 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 of the company’s stock, valued at approximately $149,089.20. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler increased their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday.

AdvanSix Trading Up 2.8 %

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 market cap of $799.09 million, a PE ratio of 20.63 and a beta of 1.69. The company’s 50 day moving average price is $29.68 and its two-hundred day moving average price is $26.92.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%.

Institutional Trading of AdvanSix

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in AdvanSix by 89.8% in the 1st quarter. BNP Paribas Financial Markets now owns 13,203 shares of the company’s stock worth $378,000 after buying an additional 6,245 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of AdvanSix by 227.0% in the first quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock valued at $4,309,000 after purchasing an additional 104,587 shares during the period. State Board of Administration of Florida Retirement System grew its stake in AdvanSix by 48.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company’s stock worth $320,000 after purchasing an additional 3,630 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in AdvanSix by 8.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock worth $694,000 after purchasing an additional 1,904 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in AdvanSix during the 1st quarter valued at $215,000. 86.39% of the stock is 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.