AdvanSix (NYSE:ASIX) Trading Down 1% - Time to Sell?

AdvanSix Inc. (NYSE:ASIX - Get Free Report)'s share price traded down 1% during mid-day trading on Wednesday . The company traded as low as $31.15 and last traded at $31.23. 8,683 shares were traded during mid-day trading, a decline of 94% from the average session volume of 139,964 shares. The stock had previously closed at $31.54.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of AdvanSix from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th. Piper Sandler upped their price objective 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.

AdvanSix Stock Up 0.5 %

The firm has a market cap of $847.34 million, a PE ratio of 22.15 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The company's 50-day simple moving average is $30.56 and its two-hundred day simple moving average is $27.72.

AdvanSix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given 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 2.02%. AdvanSix's payout ratio is currently 45.39%.

Insider Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 2,435 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company's stock, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the completion of the sale, the chief executive officer now directly owns 517,795 shares of the company's stock, valued at approximately $15,725,434.15. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 in the last quarter. Company insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On AdvanSix

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD bought a new position in shares of AdvanSix in the 1st quarter worth about $215,000. Comerica Bank increased its stake 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 in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of AdvanSix by 21.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 32,673 shares of the company's stock worth $749,000 after acquiring an additional 5,774 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of AdvanSix by 3.4% in 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of AdvanSix by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company's stock worth $8,237,000 after acquiring an additional 7,925 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other 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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