AdvanSix (NYSE:ASIX) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Piper Sandler boosted their target price on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th.

AdvanSix Trading Up 4.2 %

Shares of ASIX opened at $31.16 on Tuesday. The stock has a market capitalization of $832.91 million, a PE ratio of 22.10 and a beta of 1.69. The company’s fifty day moving average is $29.73 and its 200 day moving average is $26.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. AdvanSix has a fifty-two week low of $20.86 and a fifty-two week high of $32.04.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.05%. AdvanSix’s payout ratio is presently 45.39%.

Insider Buying and Selling

In other AdvanSix news, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the purchase, the director now owns 5,030 shares in the company, valued at $149,089.20. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Gramm sold 2,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,418 shares of company stock worth $411,626 over the last three months. 5.60% of the stock is owned by insiders.

Institutional Trading of AdvanSix

A number of hedge funds and other institutional investors have recently bought and sold shares of ASIX. First Eagle Investment Management LLC boosted its stake in shares of AdvanSix by 33.0% during the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after purchasing an additional 151,470 shares during the period. Geode Capital Management LLC lifted its holdings in AdvanSix by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock valued at $18,186,000 after buying an additional 8,903 shares in the last quarter. American Century Companies Inc. boosted its position in AdvanSix by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock valued at $13,611,000 after buying an additional 30,500 shares during the period. FMR LLC grew its stake in AdvanSix by 86.2% in the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after acquiring an additional 261,964 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of AdvanSix by 48.6% during the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after acquiring an additional 153,686 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.