Piper Sandler Issues Positive Forecast for AdvanSix (NYSE:ASIX) Stock Price

AdvanSix (NYSE:ASIX - Free Report) had its price target raised by Piper Sandler from $35.00 to $39.00 in a research note published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, StockNews.com upgraded shares of AdvanSix from a "hold" rating to a "buy" rating in a report on Monday, August 5th.

AdvanSix Stock Down 0.3 %

NYSE ASIX traded down $0.09 during midday trading on Friday, hitting $31.02. 113,366 shares of the company traded hands, compared to its average volume of 142,948. AdvanSix has a 52 week low of $20.86 and a 52 week high of $32.04. The company's 50-day simple moving average is $29.35 and its 200-day simple moving average is $26.66. The company has a market cap of $829.16 million, a PE ratio of 21.99 and a beta of 1.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix's dividend payout ratio is currently 45.39%.

Insider Transactions at AdvanSix

In related news, insider Christopher Gramm sold 2,435 shares of the firm'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 owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Erin N. Kane sold 5,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares of the company's stock, valued at $15,725,434.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company's stock, valued at $1,390,816. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,418 shares of company stock worth $411,626. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASIX. Copeland Capital Management LLC purchased a new position in shares of AdvanSix in the 3rd quarter valued at about $41,000. Point72 DIFC Ltd acquired a new position in AdvanSix during the second quarter worth $34,000. Acadian Asset Management LLC purchased a new position in AdvanSix during the second quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AdvanSix in the second quarter valued at about $51,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of AdvanSix during the second quarter worth 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.