AdvanSix (NYSE:ASIX) Trading 0.7% Higher – What’s Next?

Shares of AdvanSix Inc. (NYSE:ASIX) shot up 0.7% during mid-day trading on Friday . The company traded as high as $31.59 and last traded at $31.35. 24,663 shares traded hands during trading, a decline of 83% from the average session volume of 141,181 shares. The stock had previously closed at $31.13.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Piper Sandler raised 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. StockNews.com cut AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

AdvanSix Price Performance

The stock has a market capitalization of $846.81 million, a P/E ratio of 22.52 and a beta of 1.69. The business’s 50 day simple moving average is $29.90 and its two-hundred day simple moving average is $27.03. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.16 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.02%. AdvanSix’s payout ratio is 45.39%.

Insiders Place Their Bets

In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the transaction, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at $15,725,434.15. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Gramm sold 2,435 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,418 shares of company stock valued at $411,626. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in AdvanSix by 319.2% during the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after acquiring an additional 32,706 shares during the period. Geode Capital Management LLC increased its position in shares of AdvanSix by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock valued at $18,186,000 after purchasing an additional 8,903 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of AdvanSix by 29.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after purchasing an additional 1,396 shares during the period. Jane Street Group LLC boosted its holdings in shares of AdvanSix by 162.8% in the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after buying an additional 31,915 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in AdvanSix by 48.6% during the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after buying an additional 153,686 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.