AdvanSix (NYSE:ASIX) Shares Down 0.9% – Here’s Why

Shares of AdvanSix Inc. (NYSE:ASIX) dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $31.55 and last traded at $31.62. Approximately 80,031 shares changed hands during trading, a decline of 43% from the average daily volume of 141,588 shares. The stock had previously closed at $31.91.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ASIX. StockNews.com downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler increased 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 Price Performance

The stock has a market capitalization of $845.23 million, a P/E ratio of 22.43 and a beta of 1.69. 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 business has a fifty day simple moving average of $30.13 and a 200 day simple moving average of $27.20.

AdvanSix Announces Dividend

The company also recently announced 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 dividend yield of 2.02%. AdvanSix’s dividend payout ratio is currently 45.39%.

Insider Transactions at AdvanSix

In other AdvanSix news, insider Christopher Gramm sold 1,951 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the transaction, the insider now owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donald P. Newman acquired 5,030 shares of AdvanSix stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price 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. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 15,369 shares of company stock worth $474,058 in the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On AdvanSix

Several large investors have recently added to or reduced their stakes in ASIX. Point72 DIFC Ltd purchased a new position in shares of AdvanSix during the 2nd quarter valued at about $34,000. Acadian Asset Management LLC purchased a new position in shares of AdvanSix in the second quarter worth $36,000. Copeland Capital Management LLC purchased a new position in shares of AdvanSix during the third quarter valued at approximately $41,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of AdvanSix during the 2nd quarter valued at about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AdvanSix in the 2nd quarter worth $51,000. Institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

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.