AdvanSix Inc. (NYSE:ASIX) Short Interest Up 15.8% in November

AdvanSix Inc. (NYSE:ASIX) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 299,500 shares, an increase of 15.8% from the October 31st total of 258,700 shares. Based on an average daily trading volume, of 129,100 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.2% of the shares of the company are sold short.

Insider Buying and Selling at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now owns 517,795 shares of the company’s stock, valued at $15,725,434.15. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Gramm sold 2,435 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,369 shares of company stock valued at $474,058 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AdvanSix

Institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in AdvanSix by 86.2% during the third quarter. FMR LLC now owns 565,982 shares of the company’s stock valued at $17,195,000 after acquiring an additional 261,964 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of AdvanSix by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after purchasing an additional 153,686 shares in the last quarter. First Eagle Investment Management LLC grew its stake in AdvanSix by 33.0% during the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after purchasing an additional 151,470 shares during the period. Deprince Race & Zollo Inc. increased its holdings in AdvanSix by 45.2% in the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock worth $5,955,000 after purchasing an additional 80,915 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in 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 own 86.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ASIX shares. Piper Sandler lifted their price target 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 downgraded AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

AdvanSix Price Performance

ASIX stock traded down $0.29 during midday trading on Tuesday, reaching $32.58. 106,406 shares of the stock were exchanged, compared to its average volume of 123,595. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a market capitalization of $870.86 million, a PE ratio of 23.11 and a beta of 1.73. AdvanSix has a 52 week low of $20.86 and a 52 week high of $33.00. The company has a fifty day moving average price of $30.41 and a 200 day moving average price of $27.43.

AdvanSix Dividend Announcement

The business also recently announced 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. This represents a $0.64 annualized dividend and a yield of 1.96%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%.

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.