AdvanSix Inc. (NYSE:ASIX) Sees Large Growth in Short Interest

AdvanSix Inc. (NYSE:ASIX - Get Free Report) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 329,100 shares, an increase of 9.9% from the November 15th total of 299,500 shares. Based on an average daily trading volume, of 128,600 shares, the short-interest ratio is currently 2.6 days. Approximately 1.3% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASIX. Piper Sandler upped their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. StockNews.com raised shares of AdvanSix from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th.

AdvanSix Stock Down 0.7 %

ASIX traded down $0.21 during trading on Friday, reaching $30.95. The stock had a trading volume of 89,080 shares, compared to its average volume of 140,137. 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 company has a market capitalization of $827.29 million, a price-to-earnings ratio of 21.95 and a beta of 1.73. The stock's 50 day moving average is $30.56 and its two-hundred day moving average is $27.90. AdvanSix has a one year low of $20.86 and a one year high of $33.00.

AdvanSix Dividend Announcement

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 $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 annualized dividend and a dividend yield of 2.07%. AdvanSix's payout ratio is 45.39%.

Insider Transactions at AdvanSix

In other news, insider Christopher Gramm sold 2,435 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the sale, the chief executive officer now directly owns 522,795 shares in the company, valued at $15,830,232.60. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,369 shares of company stock worth $474,058. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD bought a new position in shares of AdvanSix during the first quarter valued at approximately $215,000. SummerHaven Investment Management LLC increased 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 valued at $468,000 after buying an additional 672 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AdvanSix by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 359,377 shares of the company's stock valued at $8,237,000 after buying an additional 7,925 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in AdvanSix in the second quarter worth $51,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of AdvanSix in the second quarter worth $36,000. 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.