AdvanSix (NYSE:ASIX) Sets New 52-Week High – What’s Next?

AdvanSix Inc. (NYSE:ASIX)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $32.19 and last traded at $32.04, with a volume of 7789 shares changing hands. The stock had previously closed at $31.68.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler lifted their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

AdvanSix Stock Up 1.7 %

The stock has a market cap of $860.97 million, a P/E ratio of 22.99 and a beta of 1.69. The company’s fifty day moving average price is $29.90 and its 200-day moving average price is $27.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.64 annualized dividend and a dividend yield of 1.99%. AdvanSix’s payout ratio is 45.39%.

Insider Transactions at AdvanSix

In other AdvanSix news, Director Donald P. Newman acquired 5,030 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the purchase, the director now directly owns 5,030 shares in the company, valued at $149,089.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $77,920.00. Following the transaction, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,418 shares of company stock worth $411,626. 5.60% of the stock is currently owned by insiders.

Institutional Trading of AdvanSix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its stake 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 worth $320,000 after purchasing an additional 3,630 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of 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 buying an additional 1,904 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of AdvanSix in the 1st quarter valued at about $215,000. Comerica Bank grew its position 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 buying an additional 6,362 shares during the last quarter. Finally, EMC Capital Management bought a new position in shares of AdvanSix during the 1st quarter worth approximately $271,000. 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.