AdvanSix (NYSE:ASIX) Shares Down 0.3% Following Insider Selling

AdvanSix Inc. (NYSE:ASIX - Get Free Report) shares dropped 0.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $31.66 and last traded at $31.81. Approximately 15,579 shares were traded during trading, a decline of 89% from the average daily volume of 141,298 shares. The stock had previously closed at $31.91.

Specifically, insider Christopher Gramm sold 1,951 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. Following the transaction, the insider now owns 43,463 shares of the company's stock, valued at approximately $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ASIX shares. StockNews.com downgraded AdvanSix from a "buy" rating to a "hold" rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on AdvanSix from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Friday, November 8th.

AdvanSix Stock Down 0.9 %

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 stock has a market capitalization of $845.23 million, a P/E ratio of 22.56 and a beta of 1.69. The company has a fifty day moving average price of $30.06 and a 200-day moving average price of $27.17.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix's payout ratio is 45.39%.

Institutional Trading of AdvanSix

A number of large investors have recently made changes to their positions in ASIX. State Board of Administration of Florida Retirement System increased its position in shares of AdvanSix by 48.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company's stock valued at $320,000 after purchasing an additional 3,630 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in AdvanSix by 8.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company's stock valued at $694,000 after acquiring an additional 1,904 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of AdvanSix in the first quarter valued at $215,000. Comerica Bank lifted its holdings in shares of AdvanSix by 48.9% in the 1st quarter. Comerica Bank now owns 19,385 shares of the company's stock worth $554,000 after acquiring an additional 6,362 shares during the last quarter. Finally, EMC Capital Management purchased a new position in shares of AdvanSix during the 1st quarter worth about $271,000. 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.