AdvanSix (NYSE:ASIX) Shares Down 1.2% - Here's What Happened

Shares of AdvanSix Inc. (NYSE:ASIX - Get Free Report) fell 1.2% during mid-day trading on Thursday . The company traded as low as $31.67 and last traded at $31.76. 12,678 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 140,619 shares. The stock had previously closed at $32.16.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ASIX. Piper Sandler upped their price target on shares of AdvanSix from $35.00 to $39.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. StockNews.com upgraded shares of AdvanSix from a "hold" rating to a "buy" rating in a research report on Wednesday.

AdvanSix Stock Down 1.1 %

The stock has a market capitalization of $850.01 million, a price-to-earnings ratio of 22.52 and a beta of 1.73. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $30.47 and a two-hundred day moving average of $27.46.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.01%. AdvanSix's payout ratio is 45.39%.

Insider Activity

In related news, insider Christopher Gramm sold 1,951 shares of the business's 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 in the company, valued at approximately $1,390,816. The trade was a 4.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total value of $151,400.00. Following the transaction, the chief executive officer now owns 522,795 shares in the company, valued at approximately $15,830,232.60. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,369 shares of company stock worth $474,058 in the last ninety days. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of AdvanSix by 319.2% during the 3rd quarter. Barclays PLC now owns 42,952 shares of the company's stock worth $1,305,000 after purchasing an additional 32,706 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AdvanSix by 1.5% during the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock worth $18,186,000 after buying an additional 8,903 shares during the last quarter. 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 valued at $184,000 after acquiring an additional 1,396 shares during the period. Jane Street Group LLC grew its stake 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 acquiring an additional 31,915 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in AdvanSix by 48.6% during the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company's stock worth $14,269,000 after acquiring an additional 153,686 shares during the period. 86.39% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.