AdvanSix (NYSE:ASIX) Shares Down 0.3% Following Insider Selling

AdvanSix Inc. (NYSE:ASIX)’s stock price dropped 0.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $31.66 and last traded at $31.81. Approximately 15,579 shares traded hands during trading, a decline of 89% from the average daily volume of 141,298 shares. The stock had previously closed at $31.91.

Specifically, insider Christopher Gramm sold 1,951 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler lifted their target price on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

AdvanSix Stock Performance

The company’s 50 day simple moving average is $30.06 and its 200 day simple moving average is $27.17. The stock has a market cap of $845.23 million, a PE ratio of 22.56 and a beta of 1.69. 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 Dividend Announcement

The firm also recently declared 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 dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s payout ratio is 45.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC purchased a new position in AdvanSix in the third quarter valued at approximately $41,000. Point72 DIFC Ltd purchased a new position in shares of AdvanSix during the 2nd quarter valued at $34,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix during the 2nd quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AdvanSix in the 2nd quarter worth about $51,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in AdvanSix in the 2nd quarter valued at about $51,000. 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.