AdvanSix (NYSE:ASIX) Trading 3.4% Higher - Time to Buy?

AdvanSix Inc. (NYSE:ASIX - Get Free Report) shares traded up 3.4% on Monday . The stock traded as high as $32.73 and last traded at $32.55. 22,791 shares changed hands during trading, a decline of 84% from the average session volume of 140,259 shares. The stock had previously closed at $31.48.

Wall Street Analyst Weigh In

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

AdvanSix Stock Performance

The company has a market cap of $861.24 million, a price-to-earnings ratio of 23.09 and a beta of 1.73. The stock's fifty day simple moving average is $30.51 and its 200 day simple moving average is $27.60. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28.

AdvanSix Announces Dividend

The firm also recently announced 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 was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 1.99%. AdvanSix's dividend payout ratio (DPR) is 45.39%.

Insider Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 2,435 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 approximately $1,390,816. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at $15,725,434.15. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,369 shares of company stock valued at $474,058 over the last 90 days. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AdvanSix

Hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in 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 period. Geode Capital Management LLC increased its position in AdvanSix by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock valued at $18,186,000 after acquiring an additional 8,903 shares during the period. Public Employees Retirement System of Ohio raised its stake in AdvanSix by 29.9% during the 3rd 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 last quarter. Jane Street Group LLC lifted its position in AdvanSix by 162.8% during the 3rd 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 period. Finally, Wellington Management Group LLP grew its stake in shares of AdvanSix by 48.6% in 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 during the last quarter. Hedge funds and other 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.

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