AdvanSix (NYSE:ASIX) Shares Down 2.1% - What's Next?

AdvanSix Inc. (NYSE:ASIX - Get Free Report) dropped 2.1% during mid-day trading on Wednesday . The stock traded as low as $31.86 and last traded at $31.88. Approximately 8,112 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 140,737 shares. The stock had previously closed at $32.58.

Analyst Upgrades and Downgrades

ASIX has been the topic of several recent analyst reports. Piper Sandler boosted their target price 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. StockNews.com downgraded shares of AdvanSix from a "buy" rating to a "hold" rating in a research note on Tuesday, November 19th.

AdvanSix Stock Performance

The firm's fifty day moving average price is $30.41 and its 200 day moving average price is $27.43. 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 $860.17 million, a PE ratio of 22.61 and a beta of 1.73.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix's dividend payout ratio is currently 45.39%.

Insider Activity

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total transaction of $151,400.00. Following the completion of the sale, the chief executive officer now directly owns 522,795 shares in the company, valued at $15,830,232.60. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Gramm sold 1,951 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the sale, the insider now owns 43,463 shares of the company's stock, valued at $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. 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 ASIX. Point72 DIFC Ltd bought a new stake in AdvanSix during the second quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in shares of AdvanSix during the second quarter valued at approximately $36,000. Copeland Capital Management LLC bought a new stake in shares of AdvanSix during the third quarter valued at approximately $41,000. Allspring Global Investments Holdings LLC bought a new stake in shares of AdvanSix during the second quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AdvanSix during the second quarter valued at approximately $51,000. 86.39% of the stock is currently owned by institutional investors.

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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