AdvanSix (NYSE:ASIX) Hits New 52-Week High - Still a Buy?

AdvanSix Inc. (NYSE:ASIX - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $32.19 and last traded at $32.04, with a volume of 7789 shares. The stock had previously closed at $31.68.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com lowered AdvanSix from a "buy" rating to a "hold" rating in a research report on Tuesday, November 19th. Piper Sandler upped 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.

AdvanSix Stock Performance

The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $863.65 million, a price-to-earnings ratio of 23.01 and a beta of 1.69. The company has a 50-day moving average of $29.90 and a 200-day moving average of $27.07.

AdvanSix Dividend Announcement

The company also recently declared 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 dividend yield of 1.98%. The ex-dividend date is Tuesday, November 12th. AdvanSix's dividend payout ratio is currently 45.39%.

Insider Activity 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 transaction of $77,920.00. Following the completion of the transaction, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the transaction, the chief executive officer now owns 517,795 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders have sold 13,418 shares of company stock valued at $411,626. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Copeland Capital Management LLC bought a new position in shares of AdvanSix in the third quarter worth $41,000. Point72 DIFC Ltd bought a new position in shares of AdvanSix in the second quarter worth $34,000. Acadian Asset Management LLC bought a new position in AdvanSix during the second quarter valued at about $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AdvanSix during the second quarter valued at about $51,000. Finally, Allspring Global Investments Holdings LLC bought a new position in AdvanSix during the second quarter valued at about $51,000. 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.