AdvanSix (NYSE:ASIX) Shares Up 1.7% – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX)’s stock price shot up 1.7% on Friday . The company traded as high as $32.34 and last traded at $32.16. 23,860 shares changed hands during trading, a decline of 83% from the average session volume of 141,039 shares. The stock had previously closed at $31.62.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASIX. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Piper Sandler upped their price objective on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

AdvanSix Trading Up 2.5 %

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 firm has a market capitalization of $866.59 million, a P/E ratio of 22.81 and a beta of 1.69. The firm has a 50-day moving average of $30.18 and a two-hundred day moving average of $27.23.

AdvanSix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 annualized dividend and a dividend yield of 1.97%. AdvanSix’s dividend payout ratio is currently 45.39%.

Insider Buying and Selling

In other AdvanSix news, insider Christopher Gramm sold 1,951 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the completion of the transaction, the insider now owns 43,463 shares of the company’s stock, valued at $1,390,816. This represents a 4.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the completion of the transaction, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,369 shares of company stock worth $474,058 in the last ninety days. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On AdvanSix

Several institutional investors and hedge funds have recently made changes to their positions in ASIX. FMR LLC increased its stake in shares of AdvanSix by 86.2% in the third quarter. FMR LLC now owns 565,982 shares of the company’s stock valued at $17,195,000 after buying an additional 261,964 shares during the period. Wellington Management Group LLP increased its stake in shares of AdvanSix by 48.6% in 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. First Eagle Investment Management LLC increased its stake in shares of AdvanSix by 33.0% in the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after buying an additional 151,470 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of AdvanSix by 45.2% in the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after buying an additional 80,915 shares during the period. Finally, Millennium Management LLC increased its stake in shares of AdvanSix by 83.8% in the second quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock valued at $3,192,000 after buying an additional 63,489 shares during the period. Institutional investors and hedge funds 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.