AdvanSix (NYSE:ASIX) Stock Price Down 1.3% - Here's Why

AdvanSix Inc. (NYSE:ASIX - Get Free Report) shares dropped 1.3% on Tuesday . The stock traded as low as $29.60 and last traded at $30.05. Approximately 16,063 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 139,395 shares. The stock had previously closed at $30.46.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ASIX. StockNews.com raised AdvanSix from a "hold" rating to a "buy" rating in a research report on Wednesday, December 4th. Piper Sandler raised their price target on AdvanSix from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th.

AdvanSix Stock Down 1.1 %

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 stock has a market cap of $804.87 million, a price-to-earnings ratio of 21.27 and a beta of 1.73. The firm's 50-day moving average is $30.54 and its 200 day moving average is $27.95.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.13%. AdvanSix's dividend payout ratio is presently 45.39%.

Insider Transactions at AdvanSix

In related news, Director Donald P. Newman bought 5,030 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now directly owns 5,030 shares of the company's stock, valued at approximately $149,089.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the firm's 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 in the company, valued at approximately $15,830,232.60. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,369 shares of company stock worth $474,058. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdvanSix

A number of institutional investors and hedge funds have recently bought and sold shares of ASIX. Barclays PLC lifted its holdings in AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company's stock worth $1,305,000 after buying an additional 32,706 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of AdvanSix by 1.5% in the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock worth $18,186,000 after acquiring an additional 8,903 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in 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 purchasing an additional 1,396 shares during the last quarter. Jane Street Group LLC boosted its holdings in AdvanSix by 162.8% in the third quarter. Jane Street Group LLC now owns 51,513 shares of the company's stock valued at $1,565,000 after purchasing an additional 31,915 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake 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 in the last quarter. Hedge funds and other 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.