AdvanSix (NYSE:ASIX) Downgraded to "Hold" Rating by StockNews.com

AdvanSix (NYSE:ASIX - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday.

Separately, Piper Sandler raised their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the company an "overweight" rating in a research note on Friday, November 8th.

AdvanSix Stock Down 2.1 %

Shares of ASIX stock traded down $0.63 on Tuesday, reaching $29.08. 82,931 shares of the company were exchanged, compared to its average volume of 141,594. The company has a 50-day moving average of $29.64 and a 200-day moving average of $26.87. AdvanSix has a one year low of $20.86 and a one year 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 company has a market cap of $777.31 million, a price-to-earnings ratio of 20.62 and a beta of 1.69.

Insider Buying and Selling

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total value of $151,400.00. Following the sale, the chief executive officer now owns 522,795 shares of the company's stock, valued at approximately $15,830,232.60. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,418 shares of company stock worth $411,626. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASIX. FMR LLC lifted its stake in AdvanSix by 86.2% during the third quarter. FMR LLC now owns 565,982 shares of the company's stock worth $17,195,000 after purchasing an additional 261,964 shares during the last quarter. 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 valued at $14,269,000 after purchasing an additional 153,686 shares during the period. First Eagle Investment Management LLC raised its stake in 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 buying an additional 151,470 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of AdvanSix by 227.0% in the 1st quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company's stock worth $4,309,000 after acquiring an additional 104,587 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of AdvanSix by 45.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company's stock valued at $5,955,000 after buying an additional 80,915 shares in the last quarter. 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.

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