AdvanSix (NYSE:ASIX) Trading 6.8% Higher - Here's Why

AdvanSix Inc. (NYSE:ASIX - Get Free Report)'s stock price traded up 6.8% during trading on Monday . The stock traded as high as $28.48 and last traded at $28.30. 31,973 shares changed hands during trading, a decline of 72% from the average session volume of 114,684 shares. The stock had previously closed at $26.50.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com upgraded AdvanSix from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th. Piper Sandler increased their target price on AdvanSix from $35.00 to $39.00 and gave the company an "overweight" rating in a research note on Friday, November 8th.

AdvanSix Trading Up 9.5 %

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 business has a 50 day simple moving average of $29.93 and a two-hundred day simple moving average of $28.57. The stock has a market cap of $776.00 million, a price-to-earnings ratio of 20.59 and a beta of 1.76.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix's dividend payout ratio is presently 45.39%.

Insiders Place Their Bets

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now owns 517,795 shares of the company's stock, valued at $15,725,434.15. The trade was a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the sale, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,749 shares of company stock valued at $444,205 in the last quarter. Insiders own 5.60% of the company's stock.

Institutional Trading of AdvanSix

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of AdvanSix during the 2nd quarter valued at $34,000. Acadian Asset Management LLC acquired a new position in shares of AdvanSix in the 2nd quarter worth $36,000. Copeland Capital Management LLC acquired a new position in shares of AdvanSix in the 3rd quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AdvanSix in the 2nd quarter worth $51,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of AdvanSix in the 2nd quarter worth $55,000. Institutional investors own 86.39% of the company's stock.

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.