AdvanSix Inc. (NYSE:ASIX - Get Free Report) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 258,700 shares, a decline of 5.4% from the October 15th total of 273,400 shares. Based on an average trading volume of 133,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.0% of the shares of the stock are sold short.
Wall Street Analyst Weigh In
ASIX has been the subject of several analyst reports. StockNews.com lowered AdvanSix from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. 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.
View Our Latest Stock Report on AdvanSix
AdvanSix Trading Up 0.2 %
ASIX stock traded up $0.06 during trading on Monday, reaching $29.71. 91,338 shares of the stock traded hands, compared to its average volume of 141,855. The business's 50 day moving average price is $29.60 and its 200-day moving average price is $26.84. AdvanSix has a 52-week low of $20.86 and a 52-week high of $32.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market capitalization of $794.18 million, a PE ratio of 21.06 and a beta of 1.69.
AdvanSix Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, November 12th. AdvanSix's dividend payout ratio (DPR) is presently 45.39%.
Insider Transactions at AdvanSix
In related news, insider Christopher Gramm sold 2,435 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $30.37, for a total value of $151,850.00. Following the completion of the transaction, the chief executive officer now owns 517,795 shares of the company's stock, valued at $15,725,434.15. The trade was a 0.96 % 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 valued at $411,626 over the last three months. 5.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On AdvanSix
A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in AdvanSix by 1.5% during the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock valued at $18,186,000 after acquiring an additional 8,903 shares during the period. Barclays PLC boosted its position in shares of AdvanSix by 319.2% in the third quarter. Barclays PLC now owns 42,952 shares of the company's stock worth $1,305,000 after buying an additional 32,706 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company's stock worth $184,000 after buying an additional 1,396 shares during the period. Jane Street Group LLC boosted its position in shares of AdvanSix by 162.8% in the third quarter. Jane Street Group LLC now owns 51,513 shares of the company's stock worth $1,565,000 after buying an additional 31,915 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company's stock worth $14,269,000 after buying an additional 153,686 shares during the period. Hedge funds and other institutional investors own 86.39% of the company's stock.
About AdvanSix
(
Get Free Report)
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.
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