AdvanSix (NYSE:ASIX) Shares Up 0.6% Following Insider Buying Activity

Shares of AdvanSix Inc. (NYSE:ASIX - Get Free Report) were up 0.6% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $29.38 and last traded at $29.26. Approximately 14,800 shares changed hands during trading, a decline of 90% from the average daily volume of 141,014 shares. The stock had previously closed at $29.09.

Specifically, Director Donald P. Newman bought 5,030 shares of the company's stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now owns 5,030 shares in the company, valued at $149,089.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ASIX shares. Piper Sandler upped their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Friday, November 8th. StockNews.com downgraded AdvanSix from a "buy" rating to a "hold" rating in a report on Tuesday.

AdvanSix Price Performance

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 company has a 50 day moving average of $29.68 and a two-hundred day moving average of $26.92. The firm has a market cap of $799.09 million, a P/E ratio of 20.63 and a beta of 1.69.

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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, November 12th. AdvanSix's payout ratio is 45.39%.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds have recently modified their holdings of ASIX. SummerHaven Investment Management LLC boosted its position in AdvanSix by 3.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company's stock worth $468,000 after acquiring an additional 672 shares during the period. Meritage Portfolio Management boosted its stake in shares of AdvanSix by 9.1% during the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company's stock worth $317,000 after acquiring an additional 871 shares in the last quarter. Copeland Capital Management LLC acquired a new position in AdvanSix during the third quarter valued at approximately $41,000. Public Employees Retirement System of Ohio increased its stake 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 worth $184,000 after purchasing an additional 1,396 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in AdvanSix during the 2nd quarter valued at $34,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.